The Nigerian Senate is expected to receive the report on the revised 2025 budget, now totaling N54.2 trillion, from its Committee on Appropriations either Wednesday or Thursday this week. Senate President Godswill Akpabio mentioned during a plenary session that the committee, chaired by Senator Solomon Adeola, is working to finalize the report for possible passage.
President Bola Tinubu initially presented a N49.7 trillion budget on December 18, 2024, but later increased it by N4.5 trillion, citing additional revenue from agencies like the Nigeria Customs Service (NCS), Federal Inland Revenue Services (FIRS), and other Government Owned Enterprises (GOEs).
Akpabio highlighted the urgency of concluding the debate on the budget and pushing for its final consideration and passage before the end of February. Originally, the budget was set to be passed by January 31, 2025, but following a resumption delay to February 4, 2025, the increased budget proposal was communicated, necessitating a reprocessing of the figures.
In line with the accelerated review, Akpabio confirmed that the committee would present the final report for consideration by the Senate later this week.
