President Bola Tinubu has raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing increased revenue from key government agencies.
Tinubu communicated the budget revision in letters sent to both the Senate and the House of Representatives, which were read during plenary today by the Senate President, Godswill Akpabio.
The president explained that the budget increase was made possible by additional revenue streams, 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 referred the President’s request to the Committee on Appropriations for swift review.
Akpabio 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 discussions to ensure the timely approval and implementation of the 2025 budget.
KanyiDaily recalls that in December 2024, President Bola Tinubu presented the 2025 budget proposal of N49.7 trillion to the National Assembly on Wednesday during a joint session.
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