Nigeria’s President Bola Tinubu has raised the proposed 2025 budget to N54.2 trillion, citing additional revenues from key agencies
President Bola Tinubu has increased Nigeria’s proposed 2025 annual budget from N49.7 trillion to N54.2 trillion, marking a significant adjustment.
Also read: Tinubu swears in eight permanent secretaries, 18 RMAFC commissioners
The revised figure was communicated through separate letters addressed to both the Senate and the House of Representatives.
In the letter read during Senate plenary by Senator Godswill Akpabio, the president explained that the increase was due to additional revenues generated by various government agencies.
These include N1.4 trillion from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service, and N1.8 trillion from other government-owned agencies.
The Senate President, in response, directed the Senate Committee on Appropriations to expedite consideration of the proposal. He also declared that the budget would be passed before the end of the month.
This revision comes after President Tinubu presented the original budget proposal to the National Assembly last December, setting the stage for key fiscal decisions ahead of the 2025 financial year.
