February 05, (THEWILL) – President Bola Tinubu has increased the proposed total budget size for 2025 from N49.7 trillion to N54.2 trillion.
The President announced the increase through separate letters forwarded to the Senate and the House of Representatives on Wednesday.
THEWILL reports that Tinubu had on December 18, presented the 2025 Appropriation Bill of N49.7trn to a Joint Session of the National Assembly.
Tagged “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” security and defence, infrastructure, health, and education were some of the sectors with the highest allocations.
According to the letter read during the plenary session on Wednesday by Senate President, Godswill Akpabio, the President stated the increase arose from N1.4trilliion additional revenues made by the Federal Inland Revenue Service, N1.2trillion made by the Nigeria Customs Service, and N1.8 trillion generated by some other government-owned agencies.
Meanwhile, Akpabio has directed the request to the Senate Committee on Appropriations for expeditious consideration.
He also assured that the budget consideration would be concluded and passed before the end of February.
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