President Bola Tinubu has increased the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies.

The President communicated the budget adjustment in separate letters to the Senate and the House of Representatives, which were read during plenary by Senate President Godswill Akpabio.

According to Tinubu, the increase is due to additional revenues amounting to ₦1.4 trillion from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion generated by other government-owned agencies.

Following the announcement, Akpabio referred the President’s request to the Senate Committee on Appropriations for urgent review and consideration. He assured lawmakers that the budget would be finalised and passed before the end of February.

The National Assembly is now expected to fast-track deliberations to ensure the timely approval and implementation of the 2025 budget.