JUST IN: Reps Back Tinubu’s Proposal To Increase 2025 Budget To ₦54.2 Trillion

The House of Representatives has thrown its support behind President Bola Tinubu’s proposal to increase the 2025 national budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue generated by key government agencies.

The move comes after fresh earnings of ₦1.4 trillion from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion from other government-owned agencies.

Addressing journalists in Abuja on Thursday, the House Deputy Spokesman, Hon. Philip Agbese, expressed the readiness of the legislative body to support the President in delivering the dividends of democracy to Nigerians.

“The House of Representatives welcomes the President’s proposal to revise the 2025 budget, which seeks to increase the allocation to ₦54.2tn. This bold move, driven by additional revenue from key government agencies, demonstrates the administration’s commitment to revitalizing the economy and improving the lives of Nigerians,” Agbese stated.

Agbese highlighted that the revised budget focuses on critical sectors, particularly agriculture and national security.

“We’re particularly encouraged by the focus on strategic sectors, such as agriculture, which will receive a significant boost through the injection of funds into the Bank of Agriculture. This initiative has the potential to empower our farmers, stimulate rural development, and enhance food security,” he said.

The lawmaker also noted that a portion of the budget increase will be directed towards enhancing national security, including the construction of new barracks for military personnel.

“This investment in our military’s welfare and infrastructure attests to the administration’s dedication to protecting our nation and its citizens,” he added.

Agbese assured Nigerians that the 10th House, under the leadership of Speaker Tajudeen Abbas, will ensure that the budget is implemented transparently and efficiently.

“As we begin our scrutiny of the proposal, we’ll continue to be guided by our commitment to ensuring that every naira is allocated efficiently, effectively, and in the best interests of Nigerians,” he said.

National Assembly To Debate Budget Estimates

The National Assembly is expected to begin deliberations on the proposed budget increase in the coming weeks, with lawmakers aiming for passage before the end of the month.

President Tinubu, in a letter addressed to both the Senate and House of Representatives on Wednesday, justified the proposed budget increase on the basis of the additional revenue collected by government agencies.

According to the letter, the revenue boost includes:

₦1.4 trillion from the Federal Inland Revenue Service (FIRS);

₦1.2 trillion from the Nigeria Customs Service;

₦1.8 trillion from other government-owned agencies.