The House of Representatives on Tuesday approved the extension of the 2024 Appropriation Act from 30th June, 2025, to 31st December, 2025.
Leading the debate, House Majority Leader Hon. Julius Ihonvbere, explained that the proposed bill seeks to amend the 2024 Appropriation Act to further extend the capital components of the Act from 30th June 2025 to 31st December 2025 and for related matters.
Ihonvbere, who was represented by the Deputy Majority Leader, Hon. Abdullahi Halim, solicited members’ support for the extension.
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In his remarks, Speaker Abbas Tajudeen affirmed that the 2024 budget is not substantially funded.
After the passage of the motion, it was referred to the Committee on Supply for clause-by-clause consideration.
Also at plenary, the House received the report of the Committee on Customs and Exercise on the issue from the Statutory Revenue Fund of the Nigeria Customs Service’s projected revenue of the total sum of N1,132,548,855,205.88 for the Nigeria Customs Service for the 2025 fiscal year, of which the sum of ₦1,070,488,214,675.04 based on a 4% FOB (Free on Board) Cost of Service, ₦33,007,042,273.87 for the Nigeria Customs Service is for 2% share of imports VAT for 2025, ₦29,053,598,256.97 is fund accrued for Ongoing Capital Projects, ₦247,156,436,799.26 is for personnel costs, ₦239,973,932,653.35 is for overhead costs, while the sum of ₦645,418,485,753.26 is for capital costs for the fiscal year 2025.
The report was laid by the Chairman of the House Committee on Customs and Excise, Hon. Leke Abejide, for consideration at the Committee of Supply.
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