The House of Representatives of Nigeria has endorsed President Bola Tinubu’s proposal to increase the 2025 budget from N49.7 trillion to N54.2 trillion, citing additional revenue generated by key government agencies.
According to the President’s letter to the National Assembly, the Federal Inland Revenue Service (FIRS) generated N1.4 trillion, the Nigeria Customs Service raised N1.2 trillion, while other government-owned agencies contributed N1.8 trillion.
Speaking to journalists in Abuja, the House Deputy Spokesman, Hon. Philip Agbese, stated that the legislature is committed to supporting the administration’s efforts to revitalize the economy.
Key Budget Focus Areas:
Agriculture: Increased funding for the Bank of Agriculture to empower farmers, stimulate rural development, and enhance food security.
National Security: Construction of military barracks to improve troop welfare and security infrastructure.
Hon. Agbese assured Nigerians that the 10th House, led by Speaker Tajudeen Abbas, will ensure the budget is implemented effectively. He emphasized that scrutiny of the proposal will prioritize transparency and accountability to ensure every naira is efficiently allocated.
The National Assembly is expected to debate the revised budget in the coming weeks, with final approval anticipated before the end of the month.
