JUST IN: TINUBU INCREASES 2025 BUDGET FROM N49.7TRN TO N54.2TRN
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President Bola Tinubu has raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, attributing the increase to additional revenues generated by key government agencies.
In separate letters to the Senate and House of Representatives, which were read during plenary by Senate President Godswill Akpabio, Tinubu detailed the sources of the additional funds.
According to him, ₦1.4 trillion was generated by the Federal Inland Revenue Service (FIRS), ₦1.2 trillion by the Nigeria Customs Service (NCS), and ₦1.8 trillion by other government-owned agencies.
Following the announcement, the Senate President referred the President’s request to the Senate Committee on Appropriations for urgent review. He assured lawmakers that the budget would be finalized and passed before the end of February.
With this adjustment, the National Assembly is expected to expedite deliberations to ensure the timely approval and implementation of the 2025 budget.
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