By Ameenat Hamzat, Lagos, Nigeria
Nigerian President Bola Tinubu, has increased the 2025 proposed national budget from ₦49.7 trillion to ₦54.2 trillion, stating that the increase is due to the additional revenues generated by important government parastatals.
This was made known in separate, letters sent to both the Senate and the House of Representatives, read during Wednesday’s plenary by the Senate President, Godswill Akpabio, at the House of Assembly, in Abuja.
In the letters, Tinubu noted that the increase was fueled by an additional revenue of ₦1.4 trillion 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 directed the Senate Committee on Appropriations to review the President’s request with urgency.
He assured lawmakers that the budget would be finalized and passed before the end of February.
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