- President Tinubu increases the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion.
- Additional revenue from FIRS, Customs, and other government agencies cited as the reason for the adjustment.
- Senate Committee on Appropriations to review the proposal, with final approval expected before the end of February.
President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.
EKO HOT BLOG reports that the President communicated the budget adjustment in separate letters to the Senate and the House of Representatives, which were read during Wednesday’s plenary by Senate President Godswill Akpabio.
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Tinubu stated that the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion generated by other government-owned agencies.
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Following the announcement, Akpabio referred the President’s 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.
Details later…
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