President Bola Tinubu has announced an increase in Nigeria's 2025 budget from the initially proposed ₦49.7 trillion to ₦54.2 trillion, marking an addition of over ₦4 trillion.
This adjustment is attributed to additional revenues of ₦1.4 trillion from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion from other government-owned agencies.
The President communicated these changes in letters to both the Senate and the House of Representatives, which were read during Wednesday's plenary by Senate President Godswill Akpabio.
The Nigerian Senate has committed to deliberating on the budget and aims to pass it by the end of February. Notably, this new budget figure is nearly double the 2024 budget estimate of ₦27.5 trillion
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