The Nasarawa State House of Assembly has approved a N402.5 billion budget for the fiscal year 2025.
This budget, termed the "Budget of Economic Growth and Stability," was passed on Friday, December 20, following an increase from the initial proposal.
Governor Abdullahi Sule had initially presented a budget of N382.5 billion to the Assembly on November 29.
However, in response to the current economic situation and inflationary pressures, the Assembly opted to augment the budget by N20 billion. Speaker Danladi Jatau explained the rationale behind this decision, stating, "This House approved the upward review of the budget size by N20 billion to enable government meet with the current economic realities in the country."
The approved budget allocates N166.4 billion for recurrent expenditure, while N236.2 billion is earmarked for capital projects. Speaker Jatau emphasized that the budget is designed to fund initiatives that prioritize the well-being of citizens and promote the overall development of the state.
"The sum of N402.5 billion has been passed by this assembly as the budget for 2025. The budget covers N166.4 billion for recurrent expenditure and N236.2 billion will go into capital expenditure," he noted.
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