In a surprise move on Wednesday, President Bola Tinubu jerked up the proposed 2025 budget from the N49.7 trillion he earlier presented to the National Assembly to N54.2 trillion.
The President announced an increase in the proposed budget size in separate letters forwarded to the Senate and the House of Representatives.
The letter read during plenary by Senate President Godswill Akpabio, said the increase arose from N1.4 trilliion additional revenues made by the Federal Inland Revenue Service, FIRS, N1.2 trillion made by the Nigeria Customs Service, and N1.8 trilliion generated by some other Government Owned Agencies.
Akpabio consequently directed the request to the Senate Committee on Appropriation for expeditious consideration, and declared that the 2025 budget would be passed before the end of February.
Corroborating the National Assembly, Minister of Budget and National Planning, Atiku Bagudu recalled how the President submitted N49 trillion budget to the National Assembly and legislative work commenced.
He explained that the legislative work continued with interactions between the executive and the National Assembly, as well as the economic management team, which continued to interrogate all the figures
