Reps Read Bill for the Second Time

Reps Read Bill for the Second Time

By Fly Cable News

The House of Representatives has passed for second reading the 2025 Appropriation Bill of N49.7 trillion which was presented before the joint session of the Senate and House of Representatives by President Bola Tinubu on Wednesday, December 18, 2024. The 2025 budget presented by president Tinubu is themed “Securing Peace, Rebuilding Prosperity.

Presenting the lead debate on the general principles of the budget on the floor of the house during Thursday’s pleary, the Leader of the house, Hon Julius Ihonvbere noted that the bill was taken to have been read the first time by virtue of being laid at the joint session of the National assembly.

He mentioned that the bill seeks to authorize the issue out of the Consolidated Revenue Fund of the Federation the total sum of N49,740,165,355,396 (Forty-Nine Trillion, Seven Hundred and Forty Billion, One Hundred and Sixty-Five Million, Three Hundred and Fifty-Five Thousand, Three Hundred and Ninety-Six Naira) only for the year ending on the 31st day of December, 2025.

Contributing to the debate, some lawmakers expressed their support for the budget, describing it as comprehensive and aligned with the nation’s developmental priorities. They commended the allocation for critical sectors such as defense, infrastructure, health, and education, noting that these areas are vital for fostering economic growth and improving the quality of life for Nigerians.

However, other lawmakers raised concerns over the high level of recurrent expenditure and debt servicing, urging the government to prioritize fiscal discipline and explore innovative revenue generation strategies.

Following a robust debate by honorable members present at plenary, the Deputy speaker Hon Benjamin Kalu referred the budget to the committee on Appropriation. The House subsequently adjourned its sitting to January 14, 2025.