President Bola Tinubu has announced an increase in the proposed 2025 national budget, raising it from ₦49.7 trillion to ₦54.2 trillion. The adjustment comes as a result of additional revenues generated by key government agencies, which Tinubu highlighted in letters sent to both the Senate and the House of Representatives.

The President's letters were read out during Wednesday's plenary by Senate President, Godswill Akpabio. According to Tinubu, the increase is backed by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion from other government-owned agencies.

Following the announcement, Akpabio referred the request to the Senate Committee on Appropriations for expedited review. He assured lawmakers that the revised budget would be finalized and passed before the end of February.


(Wafric News)