President Bola Ahmed Tinubu has revised Nigeria’s proposed 2025 budget upward from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue inflows.
In a letter to the Senate and House of Representatives, Tinubu explained that the increase was necessary due to higher-than-expected revenues from key government agencies.
The updated revenue projections include ₦1.4 trillion from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion from other Government-Owned Enterprises (GOEs).
During plenary, Senate President Godswill Akpabio read the President’s letter and referred the budget adjustments to the Senate Committee on Appropriations for urgent review.
He assured that lawmakers would expedite the budget process to ensure its passage before the end of February.
The Appropriations Committee is now tasked with reviewing the new figures, reallocating funds where necessary, and submitting a final report for legislative approval in the coming weeks.
