President Bola Tinubu has raised Nigeria’s proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing increased revenue from key government agencies. In separate letters to the Senate and House of Representatives, Tinubu detailed that the budget adjustment was driven by additional funds: ₦1.4 trillion from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion from other government-owned agencies.
Following the announcement, Senate President Godswill Akpabio referred the proposal to the Senate Committee on Appropriations for urgent review. Lawmakers assured that the budget would be finalized and passed before the end of February, ensuring the government’s financial plans align with its developmental goals.
This budget increase underscores the administration’s commitment to economic expansion and efficient revenue generation. With the additional funds, the government is expected to enhance infrastructure, social programs, and national development projects in the coming fiscal year.