President Bola Ahmed Tinubu has urged the National Assembly to approve an increase in the 2025 budget from N49.7 trillion to N54.2 trillion, citing additional revenue generated by key government agencies.
His request was contained in a letter read by Senate President Godswill Akpabio during Wednesday’s plenary session.
Tinubu attributed the need for the N4.5 trillion increase to improved revenue collection by agencies such as the Federal Inland Revenue Service (FIRS), which generated N1.4 trillion, the Nigeria Customs Service, which contributed N1.2 trillion, and other government-owned agencies, which collectively added N1.8 trillion.
The president’s appeal aligns with his administration’s broader fiscal strategy to strengthen economic stability and fund critical projects.
The proposed increase is expected to bolster key sectors, including infrastructure, security, education, and healthcare, as part of the government’s commitment to driving economic growth and improving public service delivery.
Following the reading of Tinubu’s letter, Akpabio referred the request to the Senate Committee on Appropriations for immediate review.
The Senate President assured that the budget proposal would be thoroughly scrutinised, while also promising that the revised budget would be passed before the end of February.Lawmakers are expected to deliberate on the budget increase in the coming days, weighing the potential impact on national development and fiscal sustainability.
