President Bola Tinubu has increased the anticipated 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing more revenue from important government institutions.
In separate letters to the Senate and the House of Representatives, the President communicated the budget adjustment. Senate President Godswill Akpabio read the letters during Wednesday’s plenary.
Tinubu said the increase was driven by ₦1.4 trillion in additional 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.
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He assured lawmakers that the budget would be finalised and passed before the end of February.
