Tinubu hikes 2025 budget from ₦49.7trn to ₦54.2trn

Nigeria’s President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.

Tinubu conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by Godswill Akpabio, the Senate President.

The President said the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service and ₦1.8 trillion generated by other government-owned agencies.

Following the announcement, Akpabio referred the President’s request to the Senate Committee on Appropriations for urgent consideration.

He assured lawmakers that the budget would be finalised and passed before the end of February.