President Bola Tinubu, increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, attributing the adjustment to additional revenue generated by key government agencies.
In separate letters to the Senate and the House of Representatives, Tinubu formally communicated the budget revision.
The letters were read during plenary by Senate President Godswill Akpabio.
According to the President, the budget increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion from other government-owned agencies.
Following the announcement, the Senate President referred the request to the Senate Committee on Appropriations for urgent consideration.
He assured lawmakers that the budget would be finalized and passed before the end of February.
With this development, the National Assembly is expected to expedite deliberations to ensure timely approval and implementation of the 2025 budget.
