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

The President conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by the Senate President, Godswill Akpabio.

According to the letter, the president attributed the reason for the development to additional revenue generated by some key government agencies.

President Tinubu disclosed that the amount and the agencies are N1.4 trillion from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service, and N1.8 trillion from other government-owned agencies.

Tinubu said the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service and ₦1.8 trillion generated by other government-owned agencies.

Akpabio then referred the letter to the Senate Committee on Appropriation, urging them to take a brief action on the president’s request. The Senate president then assured that the 2025 budget would be reviewed and passed before the end of February.

Senate resumed plenary

At the first plenary of the Senate in 2025, Akpabio said that the Upper Chamber must complete the electoral reform in 2025. The senator remarked while addressing the lawmakers on Wednesday, January 15.

Following the announcement, Akpabio referred the President’s request to the Senate Committee on Appropriations for urgent consideration.

He assured lawmakers that the budget would be finalised and passed before the end of February.

Akpabio reminded the lawmakers that one of the Red Chamber’s priorities is the speedy passage of the 2025 appropriation bill. He urged the lawmakers to make a renewed commitment to the legislative affairs.

The Senate President urged his colleagues to make the aspirations of those with fewer privileges a reality through the laws they pass. He maintained that the legislature can make Nigeria the pride of Africa and a beacon of hope to the world.

Akpabio speaks on visiting Tinubu

The Senate president recalled that during the break, the leadership of the Senate and the House of Representatives visited President Bola Tinubu at his residence in Lagos on behalf of the lawmakers.

He said the president also sent his wishes and greetings to the lawmakers. According to him, Nigeria was currently going through trials that would shock the world in a short period.

Akpabio then expressed the optimism that the challenges before Nigeria were with seeds of opportunities and that the country would triumph