Abuja, Feb. 5, 2025 – President Bola Tinubu has increased the proposed 2025 Federal Budget estimate from ₦49.7 trillion to ₦54.2 trillion due to additional revenues generated by some government agencies.
The president has sent separate letter to both the Senate and the House of Representatives to inform the legislature of the development.
Godswill Akpabio, the Senate President, read the letter to Senators at the plenary on Wednesday.
President Tinubu said the increase was driven by additional ₦1.4 trillion revenue realized by the Federal Inland Revenue Service (FIRS), the ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion generated by other government-owned agencies.
The Senate president referred the president’s request to the Senate Committee on Appropriations for urgent consideration.
He assured the lawmakers that in spite of the development, the budget would still be passed before the end of February.
