The President of Nigeria, Bola Tinubu has raised the proposed 2025 budget from 49.7 trillion Naira to 54.2 trillion Naira, citing additional revenues generated by key government agencies.
President Tinubu made this known while conveying the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during plenary on Wednesday, by the Senate President, Godswill Akpabio.
According to President Tinubu, the increase was driven by 1.4 trillion Naira in additional revenue from the Federal Inland Revenue Service, FIRS, 1.2 trillion Naira from the Nigeria Customs Service, NCS, and 1.8 trillion Naira generated by other government-owned agencies.
9News Nigeria reports that following the announcement, the Senate President referred the President’s request to the Senate Committee on Appropriations for urgent consideration.
Apabio therefore assured lawmakers that the budget would be finalised and passed before the end of February.
