President Bola Tinubu has requested the National Assembly to increase the proposed 2025 budget from N49.7 trillion to N54.2 trillion, citing higher than expected revenue collections. In a letter addressed to both chambers of the National Assembly, the President explained that the additional funds stem from N1 trillion generated by the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS), and N1.8 trillion collected by various Government-Owned Agencies.
The Senate President, Godswill Akpabio, read the letter during Wednesday’s plenary session and subsequently referred the request to the Senate Committee on Appropriations for immediate review. The budget review process is expected to be completed and passed before the end of the month.
