President Bola Tinubu has written to the National Assembly requesting an increase in the 2025 budget from ₦49.7 trillion to ₦54.6 trillion.
His request was conveyed in separate letters sent to both the Senate and the House of Representatives, which were read during plenary by Senate President Godswill Akpabio and Speaker of the House Abbas Tajudeen.
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In the letter read by Akpabio, Tinubu explained that the proposed increase is based on additional revenue generated by key government agencies. According to the breakdown, the Federal Inland Revenue Service (FIRS) contributed ₦1.4 trillion, the Nigeria Customs Service generated ₦1.2 trillion, while other government-owned agencies accounted for ₦1.8 trillion.
Following the reading, Akpabio referred the request to the Senate Committee on Appropriations for prompt consideration, assuring that the budget review process would be concluded and passed before the end of the month.
Details later…
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