House of Reps Approves ₦91.87 Trillion Revised Budgets, Extends 2025 Budget Deadline

The House of Representatives has approved revised federal budgets totaling ₦43.56 trillion for the 2024 fiscal year and ₦48.31 trillion for 2025, reflecting adjustments to government spending priorities and revenue projections.

The approvals followed the consideration of reports by the House Committee on Appropriations, which reviewed the executive’s requests and recommended amendments to align the budgets with current economic realities and policy objectives.

Lawmakers also approved an extension of the deadline for the implementation of the 2025 budget, shifting it to March 31, 2026. The extension is intended to allow ministries, departments, and agencies sufficient time to fully execute capital and recurrent projects.

During plenary, members of the House said the revised timelines would improve budget performance and reduce the recurring problem of rushed implementation at the end of the fiscal year.

The House emphasized the need for strict oversight to ensure that approved funds are judiciously utilized and that the extended budget period delivers tangible benefits to Nigerians.