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President Bola Tinubu has asked the National Assembly to increase the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion.
In a letter sent to both the Senate and the House of Representatives, Tinubu explained that the increase was necessary because of additional revenue collected by government agencies. He noted that the Federal Inland Revenue Service (FIRS) raised ₦1 trillion, the Nigeria Customs Service (NCS) generated ₦1.2 trillion, and other Government-Owned Agencies contributed ₦1.8 trillion.
Senate President Godswill Akpabio read the letter during Wednesday’s plenary session and referred the request to the Senate Committee on Appropriations for further review. He assured that the adjustments would be completed and the budget passed before the end of the month.
The National Assembly has the power to adjust the budget before approving it, either by increasing or reducing the figures, following due legislative process.
