President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, attributing the adjustment to additional revenues generated by key government agencies.
The President announced the revision in separate letters addressed to the Senate and the House of Representatives, which were read during today’s plenary session by Senate President Godswill Akpabio.
According to Tinubu, the upward adjustment was driven by ₦1.4 trillion in extra revenue 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 prompt consideration.
He assured lawmakers that the budget would be finalized and passed before the end of February.
This development places the National Assembly under pressure to expedite deliberations and ensure timely approval and implementation of the 2025 budget.