Bola Tinubu has increased Nigeria’s 2025 budget from N49.7 trillion naira to N54 trillion, an addition of over N4 trillion naira.
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 the Senate President, Godswill Akpabio
Tinubu stated that he increased the amount, given rise in the revenue generated by different government agencies.
By this effect, the amount was raised from the earlier proposed figure of ₦49.7 trillion to ₦54.2 trillion. This would mean extra additions of N4.5 trillion.
According to Tinubu, the budget increase was emboldened 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.
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The Nigerian Senate promised to deliberate on the sum and pass it by end of February. With the new figure, Nigeria plans to spend about twice its 2024 budget estimates, having proposed N27.5 trillion in 2024.
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