Tinubu raises 2025 budget proposal to N54.2 trillion

President Bola Ahmed Tinubu has increased Nigeria’s proposed 2025 budget from ₦49.7 trillion—as initially presented to the National Assembly (NASS) on December 18, 2024—to ₦54.2 trillion.

In a letter addressed separately to both the Senate and the House of Representatives, President Tinubu cited additional revenue inflows as the reason for the budget adjustment.

The breakdown of revenue increases indicated ₦1.4 trillion from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion from other Government-Owned Enterprises (GOEs).

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The President of the Senate, Godswill Akpabio, while reading Tinubu’s letter during plenary, referred the budget increase to the Senate Committee on Appropriations for urgent action.

He assured that the budget process will be fast-tracked, emphasizing that the National Assembly will conclude and pass the 2025 budget before the end of February.

The Appropriations Committee is expected to review the new budget figures, adjust allocations accordingly, and submit its report for legislative approval within the coming weeks.