…..anticipates more revenue from agencies
President Bola Ahmed Tinubu on Wednesday asked the National Assembly to increase the proposed 2025 budget from N49 trillion to N54.2 trillion.
Tinubu had in December 2024 presented a N49.7 trillion budget proposal to the National Assembly .
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The request to increase the 2025 budget was contained in a letter read by President of the Senate, Godswill Akpabio on the floor of the red chamber.
According to Tinubu’s letter to the Senate, the increase was driven 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 generated by other government-owned agencies.
Senate President therefore referred the President’s request to the Senate Committee on Appropriations for urgent consideration.
He assured lawmakers that the budget would be finalised and passed before the end of February.
