ABUJA – The House of Representatives has endorsed President Bola Tinubu’s proposal to increase Nigeria’s 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue from key government agencies.
The revised budget is bolstered by ₦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, Deputy Spokesman of the House, Hon. Philip Agbese, reaffirmed the legislature’s commitment to supporting the President’s economic vision, emphasizing the budget’s focus on critical sectors such as agriculture and national security.
“The House of Representatives welcomes the President’s proposal to revise the 2025 budget to ₦54.2 trillion. This bold move, driven by additional revenue from key government agencies, underscores the administration’s commitment to revitalizing the economy and improving the lives of Nigerians,” Agbese stated.
A significant portion of the budget will be directed toward agriculture, with increased funding for the Bank of Agriculture aimed at empowering farmers, stimulating rural development, and enhancing food security.
Additionally, the proposal prioritizes national security, including the construction of military barracks to improve the welfare and infrastructure of Nigeria’s armed forces.
As scrutiny of the proposal begins, Agbese assured Nigerians that the 10th House, led by Speaker Tajudeen Abbas, will ensure efficient allocation and implementation of funds.
“We remain dedicated to ensuring that every naira is spent effectively and in the best interests of Nigerians,” he added.
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