President Bola Ahmed Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue generated by key government agencies.
In separate letters addressed to the Senate and the House of Representatives, Tinubu communicated the budget adjustment, which was read during plenary by Senate President Godswill Akpabio.
According to the President, the budget increase is driven by additional revenues, including ₦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 proposal to the Senate Committee on Appropriations for urgent review. He assured lawmakers that the budget would be finalized and passed before the end of February.
With this adjustment, the National Assembly is expected to expedite deliberations to ensure the timely approval and implementation of the 2025 budget.
