President Bola Tinubu has raised Nigeria’s proposed 2025 budget from the N49.7 trillion initially presented to the National Assembly on December 18, 2024, to N54.2trillion.
The President conveyed the budget increase in separate letters addressed to both the Senate and the House of Representatives.
The Senate President, Godswill Akpabio, who read the letter during plenary, explained that the increase was due to additional revenues generated by key government agencies.
These include N1.4 trillion from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS) and N1.8 trillion from other government-owned agencies.
Following the announcement, the Senate referred the request to the Committee on Appropriations for prompt consideration.
Speaking on the essence of the latest development, Akpabio, assured that the budget would be reviewed, finalized, and passed before the end of the month.
