BREAKING: Tinubu Proposes Increase in 2025 Budget to N54.2 Trillion

President Bola Tinubu has requested the National Assembly to raise the 2025 Budget proposal from N49.7 trillion to N54.2 trillion.

As stipulated by the Constitution, the National Assembly holds the authority to either approve or adjust the proposed budget through the proper legislative process.

In a letter addressed to both the Senate and House of Representatives, President Tinubu announced the decision to increase the 2025 fiscal year budget. The original figure of N49.7 trillion, presented during his address to a joint session of the National Assembly on December 18, 2024, is now proposed to be revised to N54.2 trillion.

The increase, according to the President, is based on additional revenue collection, including N1 trillion from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS), and N1.8 trillion from various other government agencies.

Following the presentation, Senate President Godswill Akpabio directed that the request be sent to the Senate Committee on Appropriations for swift consideration, and emphasized that the budget review would be finalized and passed by the end of the month.

Details to follow…