President Bola Tinubu has formally requested the National Assembly to increase the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion.
The Nigerian Constitution empowers the National Assembly to adjust financial estimates for the fiscal year through proper legislative procedures.
In two separate letters addressed to the Senate and the House of Representatives, President Tinubu urged lawmakers to approve an upward revision of the budget size he initially presented on December 18, 2024.
During a plenary session on Wednesday, Senate President Godswill Akpabio read Tinubu’s letter, which cited additional government revenue as the reason for the increase. Specifically:
- ₦1 trillion was generated by the Federal Inland Revenue Service (FIRS)
- ₦1.2 trillion came from the Nigeria Customs Service (NCS)
- ₦1.8 trillion was collected by other Government-Owned Agencies
Following the President’s request, the Senate Committee on Appropriations was tasked with reviewing the proposal. Senate leadership has assured that the budget review process will be completed and passed before the end of the month.