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

In a separate letter sent to both the Senate and the House of Representatives and read during plenary by the Senate President, Godswill Akpabio, President Tinubu said the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service (FIRS).

Tinubu also noted that the increase was driven by the ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion generated by other government-owned agencies.

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

With this development, the National Assembly is expected to fast-track deliberations to ensure timely approval and implementation of the 2025 budget.