President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues from key government agencies.
In letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary, Tinubu explained that the increase was driven by ₦1.4 trillion from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion from other government-owned agencies.
Senate President Godswill Akpabio referred the request to the Senate Committee on Appropriations for urgent review, assuring lawmakers that the budget would be finalised before the end of February.