President Bola Tinubu has raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue generation from key government agencies. The adjustment was communicated in separate letters sent to both the Senate and the House of Representatives, which were read in plenary today by Senate President Godswill Akpabio.
The increase is driven by ₦1.4 trillion from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion generated by other government-owned agencies.
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Following the announcement, Senate President Akpabio referred the request to the Senate Committee on Appropriations for urgent consideration. He reassured lawmakers that the revised budget would be finalised and passed before the end of February.
With the adjustment, the National Assembly is expected to fast-track deliberations to ensure the 2025 budget is approved and implemented in a timely manner.
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