Citing increased revenue from important government institutions, President Bola Tinubu increased the anticipated 2025 budget from ₦49.7 trillion to ₦54.2 trillion.
In separate letters to the Senate and the House of Representatives, the President communicated the budget adjustment. Senate President Godswill Akpabio read the letters during Wednesday’s plenary.
According to Tinubu, the Nigeria Customs Service brought in 1.2 trillion, the Federal Inland Revenue Service brought in 1.4 trillion, and other government-owned businesses brought in 1.8 trillion.
After the announcement, Akpabio forwarded the President’s request for immediate consideration to the Senate Appropriations Committee.
Before the end of February, he promised parliamentarians, the budget would be finalized and approved.