
President Bola Tinubu has increased Nigeria’s 2025 budget to 54.2 trillion naira ($36.4 billion), up from 49 trillion naira.
In a letter to the Senate on Wednesday, Tinubu explained that the adjustment was driven by additional revenue from key government agencies.
The Federal Inland Revenue Service contributed 1.4 trillion naira, while the Nigeria Customs Service added 1.2 trillion naira, alongside 1.8 trillion naira from other sources.
Last December, officials projected a budget deficit of 3.89% of GDP, amounting to roughly 13 trillion naira, in the spending plan.