President Bola Tinubu has revised the proposed 2025 budget, increasing it from ₦49.7 trillion to ₦54.2 trillion, citing extra revenue from key government agencies.
The adjustment was communicated in separate letters to both the Senate and the House of Representatives, which were read out by Senate President Godswill Akpabio.
Tinubu explained that the increase was due to an additional ₦1.4 trillion from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion from other government agencies.
The Senate President referred the request to the Senate Committee on Appropriations for quick review, promising that the budget would be finalized and passed by the end of February.
This development will likely accelerate the budget approval process to ensure timely implementation.