President (Asíwájú) Bọ́lá Ahmed Tinúbú–GCFR has formally requested the National Assembly to increase the 2025 budget from ₦49.7 trillion to ₦54.2 trillion.
This proposed increase is attributed to additional revenue generated by key government agencies, including the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and other government-owned enterprises.
In a letter read by Senate President Godswill Akpabio, Tinubu highlighted that the FIRS contributed ₦1.4 trillion, the NCS generated ₦1.2 trillion, and other government-owned entities raised an additional ₦1.8 trillion. These earnings have provided the government with the financial capacity to adjust the budget upward.
The request has been forwarded to the Senate Committee on Appropriations for prompt deliberation. Senate President Akpabio assured lawmakers that the review process would be expedited to ensure passage before the end of the month. The National Assembly will give this request due consideration, aiming to complete the process swiftly to ensure smooth implementation of government programs.
This budget increase signals Tinubu’s administration’s commitment to leveraging increased revenue for national development. However, the proposed hike may attract scrutiny from lawmakers and economic analysts who will assess the feasibility of the adjustment.
The Senate’s decision in the coming weeks will determine whether Tinubu’s request is granted, potentially making President Bola Tinubu at the 2025 budget presentation on Wednesday, December 18.
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