President Bola Tinubu has revised Nigeria’s proposed 2025 budget, increasing it from the initial ₦49.7 trillion to ₦54.2 trillion. This adjustment reflects the improved revenue projections for the country.
In a formal letter addressed to the Senate, which was read during Wednesday’s plenary session by Senate President Godswill Akpabio, Tinubu explained that the increase was a result of additional revenue generated by several key government agencies. These agencies include the Federal Inland Revenue Service (FIRS), which contributed ₦1.4 trillion, the Nigeria Customs Service (NCS), which generated ₦1.2 trillion, and other government-owned agencies, which brought in ₦1.8 trillion.
Following the President’s announcement, Senate President Akpabio promptly referred the proposal to the Senate Committee on Appropriations for thorough and swift consideration. Akpabio further assured lawmakers and the public that the budget would undergo review and be passed before the end of February, signaling an efficient process toward its final approval.
