President Bola Tinubu has increased the size of the proposed total budget for 2025 from N49.trillion to N54.2trillion.
Recall that President Tinubu had last December formally presented to the joint session of the National Assembly the 2025 Appropriation Bill with an N49.trillion estimate.
President of the Senate, Godswill Akpabio, read a letter from President Tinubu announcing the increase at Wednesday’s plenary.
Tinubu premised the increase on additional revenues made by certain revenue agencies, which included the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service. Akpabio announced specifically that the FIRS made additional N1.4trilliion.
The President of the Senate consequently directed the request to the Senate Committee on Appropriations for expeditious consideration and further promised that the budget consideration would be concluded and passed before the end of this month.
