President Bola Tinubu has increased Nigeria’s proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion. This decision was made due to additional revenue generated by key government agencies.
The President communicated the budget adjustment in letters sent to both the Senate and the House of Representatives. The letters were read during Wednesday’s plenary session by Senate President Godswill Akpabio.
Tinubu explained that the increase came from revenue collected by the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service, and other government-owned agencies.
According to the breakdown, the Federal Inland Revenue Service generated ₦1.4 trillion in additional revenue.
The Nigeria Customs Service contributed ₦1.2 trillion, while other government-owned agencies brought in an extra ₦1.8 trillion. This additional income allowed the government to expand the budget beyond the earlier proposal of ₦49.7 trillion.
