President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, attributing the adjustment to additional revenues generated by key government agencies.
In separate letters to the Senate and the House of Representatives, read during Wednesday’s plenary by Senate President Godswill Akpabio, Tinubu explained that the budget increase was driven by additional revenues of ₦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.
Following the announcement, Senate President Godswill Akpabio referred President Tinubu’s request to the Senate Committee on Appropriations for urgent review.
He assured lawmakers that the budget would be finalized and passed before the end of February.
More details to follow…
