The country’s proposed annual budget for 2025 has been increased by President Bola Tinubu from N49.7 trillion to N54.2 trillion.
Separate letters to the Senate and the House of Representatives are used to enhance the projected budget size.
In a letter read by Senator Godswill Akpabio during Senate plenary, the president stated that the increase was due to N1.4 trillion in additional revenue from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service, and N1.8 trillion from a few other government-owned businesses.
As a result, the Senate President said that the budget review will be finished and approved by the end of this month and referred the request to the Senate Committee on Appropriations for prompt consideration.
Recall that the National Assembly’s joint session heard President Tinubu’s presentation of the 2025 budget plan in December.
