President Bola Tinubu has requested an upward revision of the proposed 2025 budget from N49.7 trillion to N54.2 trillion, citing additional revenue generated by key government agencies.
In a letter addressed to Senate President Godswill Akpabio, which was read during plenary on Wednesday, Tinubu explained that the increase was due to extra funds raised by the Federal Inland Revenue Service (FIRS) (N1.4 trillion), the Nigeria Customs Service (N1.2 trillion), and other government agencies (N1.8 trillion).
The initial N49.7 trillion budget was presented to a joint session of the National Assembly on December 18, 2024. Following the President’s latest request, Akpabio referred the matter to the Committee on Appropriations for prompt review, assuring that the budget would be finalized and passed before the end of February 2025.
