President Bola Tinubu has written to the National Assembly, requesting an increase to the proposed 2025 Budget from N49.7 trillion to N54.2 trillion.
The President made the request through separate letters forwarded to both Senate and the House of Representatives, who are the highest legislative body in the country.
In December 18, President Tinubu presented N49.7 trillion as budget for the 2025 fiscal year to the joint session of the National Assembly.
However, in the letter read during the plenary session in the Senate on Wednesday by Senator Godswill Akpabio, the President stated that the increase was due to an additional N1 trillion in revenues generated by the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS), and N1.8 trillion collected by various other Government-Owned Agencies.
The President of the Senate subsequently directed that the request be sent to the Senate Committee on Appropriations for prompt consideration, declaring that the budget review would be concluded and passed before the end of the month.
Understandably, the Constitution allows the National Assembly to either increase or reduce the financial estimates for the fiscal year through proper legislative procedures.
