Economy

Nigeria's parliament approves $36.6 bln budget for 2025

Date: Feb 13, 2025

Nigeria's parliament has approved a budget of 54.99 trillion Naira ($36.6 billion) for 2025, exceeding the proposal submitted by President Bola Tinubu, House of Representatives Speaker Tajudden Abbas said this Thursday.

Tinubu last week submitted a budget of 54.2 trillion Naira ($36 billion) to the National Assembly, but lawmakers raised the amount before granting their approval. Under Nigerian law, parliament can increase or cut the government's spending plans.

Nigeria made a provision of $200 million in the spending plan to fill gaps created by the United States' suspension of aid to Nigeria's health sector, according to a Senate document seen by Reuters.

In December, the government said the 2025 budget included a deficit of 3.89% of gross domestic product.

--Reuters--

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