Tinubu Boosts 2025 Budget to ₦54.2 Trillion: What You Need to Know

Tinubu Boosts 2025 Budget to ₦54.2 Trillion: What You Need to Know

In a significant move, President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion. This boost is driven by additional revenues generated by key government agencies, including the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and other government-owned agencies ¹.

The President conveyed the budget adjustment in separate letters to the Senate and House of Representatives, which were read during plenary by Senate President Godswill Akpabio. The increase is attributed to:

– ₦1.4 trillion in additional revenue from FIRS
– ₦1.2 trillion from NCS
– ₦1.8 trillion generated by other government-owned agencies

The Senate President has referred the President’s request to the Senate Committee on Appropriations for urgent consideration. Lawmakers are assured that the budget will be finalized and passed before the end of February.

This development is expected to fast-track deliberations, ensuring timely approval and implementation of the 2025 budget. The National Assembly will likely prioritize the budget’s passage to meet the February deadline.

For more insights into the 2025 budget, you can explore the *10 Major Takeaways from Tinubu’s 2025 Budget Speech* ². These highlights provide a comprehensive overview of the budget’s themes, allocations, and priorities.

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