President Bola Tinubu has asked the National Assembly to increase the proposed 2025 budget to N54.2 trillion.
This comes after Tinubu initially presented a budget proposal of N49.7 trillion to the lawmakers in December 2024.
According to a letter read by Senate President Godswill Akpabio on the floor of the Senate on Wednesday, 5 February, 2025 the President is seeking an upward review of the budget due to additional revenue generated by key government agencies.
The Federal Inland Revenue Service (FIRS) contributed N1.4 trillion, the Nigeria Customs Service generated N1.2 trillion, while other government-owned agencies accounted for N1.8 trillion.
The President’s request has been referred to the Senate Committee on Appropriations for prompt consideration. Senate President Akpabio assured that the budget review process would be concluded and passed before the end of the month.
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