President Bola Tinubu has raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.
The President conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during plenary today by the Senate President, Godswill Akpabio.
The letter said the increase arose from N1.4 trilliion additional revenues made by the Federal Inland Revenue Service, FIRS, N1.2 trillion made by the Nigeria Customs Service, and N1.8 trilliion generated by some other Government Owned Agencies.
Akpabio consequently directed the request to the Senate Committee on Appropriation for expeditious consideration.
He assured lawmakers that the budget would be finalised and passed before the end of February.
With this development, the National Assembly is expected to fast-track deliberations to ensure timely approval and implementation of the 2025 budget.
