The National Assembly is set to pass the 2025 budget proposal on February 8, following President Bola Tinubu’s request for an additional N4.5 trillion, bringing the total budget size to N54.2 trillion.
The President had initially presented a N49.7 trillion budget to a joint session of the National Assembly on December 18, 2024. However, in separate letters to both legislative chambers on Wednesday, he announced the increase based on additional revenues generated by key government agencies.
According to the letter read in the Senate by Senate President Godswill Akpabio, the budget increase is attributed to:
- N1.4 trillion from the Federal Inland Revenue Service (FIRS)
- N1.2 trillion from the Nigeria Customs Service (NCS)
- N1.8 trillion from other Government-Owned Agencies
In response, Senate President Akpabio directed the request to the Senate Committee on Appropriations for immediate consideration, assuring that the final budget would be passed before the end of the month.
The 2025 budget is expected to prioritize economic growth, infrastructure development, healthcare, education, and security, in line with the Renewed Hope Agenda of the Tinubu administration.
