President Bola Ahmed Tinubu has raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, attributing the increase to additional revenues generated by key government agencies.
The President communicated the budget adjustment in separate letters sent to both the Senate and the House of Representatives. The letters were read during Wednesday’s plenary by Senate President Godswill Akpabio.
According to Tinubu, the upward revision was necessitated by an additional ₦1.4 trillion in revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion generated by other government-owned agencies.
Following the announcement, Akpabio referred the President’s request to the Senate Committee on Appropriations for urgent consideration. He assured lawmakers that the budget would be finalised and passed before the end of February.
