President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, attributing the rise to additional revenue generated by key government agencies.
The President communicated this adjustment in separate letters to both the Senate and the House of Representatives, which were read during plenary by Senate President Godswill Akpabio.
According to President Tinubu, the budget increase is due to ₦1.4 trillion from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion from other government-owned agencies.
Following the announcement, the Senate President referred the President’s request to the Senate Committee on Appropriations for urgent consideration.
He reassured lawmakers that the budget would be finalized and passed before the end of February.
This move is expected to prompt the National Assembly to expedite deliberations to ensure the 2025 budget is approved and implemented on time.
