President Bola Tinubu has requested the National Assembly to adjust the proposed 2025 Budget from N49.7 trillion to N54.2 trillion.
The Nigerian Constitution empowers the National Assembly to amend financial estimates for the fiscal year through established legislative procedures.
In two separate letters addressed to the Senate and the House of Representatives, President Tinubu proposed increasing the budget size for the 2025 fiscal year. The initial N49.7 trillion budget, presented to a joint session of the National Assembly on December 18, 2024, has been revised upward to N54.2 trillion.
The President’s letter, read during Wednesday’s Senate plenary by Senate President Godswill Akpabio, cited the reasons for the increase: an additional N1 trillion in revenues from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS), and N1.8 trillion from other Government-Owned Agencies.
Following the announcement, the Senate President referred the request to the Senate Committee on Appropriations for swift deliberation. He assured that the budget review process would be finalized and passed before the end of the month.
