Tinubu increases 2025 budget from N49.7tr to N54.2tr

Buoyed by increased revenue pouring into the federal government coffers, President Bola Tinubu has formally written to the Senate, requesting an increase in the 2025 budget from N49.7 trillion to N54.2 trillion.

That is an addition of a whopping N4.5 trillion.

Tinubu’s letter was read during Wednesday’s plenary session by Senate President Godswill Akpabio.

According to the Senate President, the proposed increase stems from additional revenues as follows:

N1.4 trillion from the Federal Inland Revenue Service (FIRS)

N1.2 trillion from the Nigeria Customs Service

N1.8 trillion generated by other government-owned agencies

Senate President Akpabio directed the request to the Senate Committee on Finance and Appropriations for swift consideration, adding that the budget deliberation would be concluded and passed before the end of February.