President Tinubu has urged the National Assembly to increase the 2025 budget from N49.7 trillion to N54.2 trillion due to higher revenue from FIRS, NCS, and other agencies. Lawmakers will review the proposal to ensure funding for key projects, with deliberations expected to conclude before the month ends.
President Bola Tinubu has asked the National Assembly to approve a revised budget of N54.2 trillion for the 2025 fiscal year, an increase from the N49.7 trillion initially proposed.
In separate letters to the Senate and House of Representatives, Tinubu attributed the adjustment to additional revenue generated by key government agencies, including the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and other government-owned bodies. These sources contributed an extra N4.5 trillion, prompting the need for a higher budget allocation.
The request was formally read during the Senate's plenary session by Senate President Godswill Akpabio, who directed the Appropriations Committee to review the proposal. Lawmakers are expected to deliberate on the request and finalize the budget before the end of the month.
With the National Assembly holding the constitutional power to modify budgetary estimates, the proposal will undergo scrutiny to ensure alignment with national priorities. The increase is expected to fund critical projects and sustain economic programs, supporting the government’s broader fiscal strategy.