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BREAKING: Tinubu seeks National Assembly approval to increase 2025 budget to ₦54trn

President Bola Tinubu at the 2025 budget presentation on Wednesday, December 18. [X, formerly Twitter]
President Bola Tinubu at the 2025 budget presentation on Wednesday, December 18. [X, formerly Twitter]

President Bola Tinubu has formally requested the National Assembly to increase the 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue from key government agencies.

Tinubu’s appeal was conveyed in a letter read by Senate President Godswill Akpabio during Wednesday’s plenary session.

The President attributed the proposed increase to extra funds generated by the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS), and other revenue-generating agencies.

According to the letter, the FIRS contributed ₦1.4 trillion, the NCS generated ₦1.2 trillion, while other government-owned entities raised an additional ₦1.8 trillion.

These earnings, Tinubu stated, provide the government with the financial capacity to adjust the budget upward.

The request has been forwarded to the Senate Committee on Appropriations for prompt deliberation.

Senate President Akpabio assured lawmakers that the review process would be expedited to ensure passage before the end of the month.

"The National Assembly will give this request due consideration, and we aim to complete the process swiftly to ensure smooth implementation of government programmes," Akpabio stated.

Tinubu’s request signals his administration’s commitment to leveraging increased revenue for national development.

However, the proposed hike may attract scrutiny from lawmakers and economic analysts who will assess the feasibility of the adjustment.

The Senate’s decision in the coming weeks will determine whether Tinubu’s request is granted, potentially making the 2025 budget Nigeria’s highest ever.

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