President Bola Tinubu has asked the National Assembly (NASS) to approve an increase in Nigeria’s 2025 budget. Initially, the budget was set at ₦49 trillion, but Tinubu now wants it raised to ₦54.2 trillion.
This request comes because government agencies have collected more revenue than expected. The extra money comes from:
Federal Inland Revenue Service (FIRS): ₦1.4 trillion
Nigeria Customs Service (NCS): ₦1.2 trillion
Other government agencies: ₦1.8 trillion
In total, an extra ₦4.2 trillion has been collected, and Tinubu wants to use it to fund important projects in Nigeria.
The 2025 budget already has a deficit of ₦13 trillion (3.89% of Nigeria’s GDP). This means the government plans to spend more than it earns. However, with the extra revenue, the government can reduce borrowing or fund more projects.
If NASS approves the increase, the additional money could be used for:
Infrastructure (roads, bridges, electricity)
Healthcare (better hospitals and medical facilities)
Education (schools, universities, and training programs)
Security (improving the police and military)
Now that Tinubu has made the request, the National Assembly will review it. If lawmakers agree, they will approve the new budget. If they don’t, they might suggest a lower increase or ask for changes.
