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President Bola Ahmed Tinubu has submitted a request to the Senate to raise the 2025 budget from ₦49.7 trillion to ₦54.2 trillion.
The letter, which was read by Senate President Godswill Akpabio during Wednesday’s plenary session, explains that the proposed increase is due to additional revenue from various sources.
According to the Senate President, the proposed increase stems from additional revenues as follows:
- ₦1.4 trillion from the Federal Inland Revenue Service (FIRS)
- ₦1.2 trillion from the Nigeria Customs Service
- ₦1.8 trillion from other government-owned agencies
Senate President Akpabio directed the request to the Senate Committee on Finance and Appropriations for swift consideration, adding that the budget deliberation would be concluded and passed before the end of February.
Details later…