House of Reps Endorses Tinubu’s ₦54.2 Trillion 2025 Budget Proposal

The House of Representatives has endorsed President Bola Tinubu’s plan to raise the national budget for 2025 from ₦49.7 trillion to ₦54.2 trillion, pointing to increased revenue from important government institutions.
Following new revenues of 1.4 trillion Nigerian Naira from the Federal Inland Revenue Service (FIRS), 1.2 trillion from the Nigeria Customs Service, and 1.8 trillion from other government-owned enterprises, the action occurred.
Speaking to reporters in Abuja on Thursday, House Deputy Spokesman Hon. Philip Agbese stated that the legislature is prepared to assist the president in providing Nigerians with the benefits of democracy.
The President’s plan to update the 2025 budget, which aims to raise the allotment to ₦54.2 trillion, is supported by the House of Representatives. Agbese said, “This audacious action, which was motivated by more money from important government departments, shows the administration’s dedication to reviving the economy and enhancing the lives of Nigerians.

Agbese emphasized that important areas, namely national security and agriculture, are the emphasis of the updated budget.

“The emphasis on vital industries, like agriculture, which will be greatly bolstered by the infusion of capital into the Bank of Agriculture, is especially encouraging. He stated that this program might boost food security, encourage rural development, and empower our farmers.

A chunk of the budget increase, the member added, will go toward improving national security, which includes building new barracks for military troops.

“This investment in the infrastructure and well-being of our military demonstrates the administration’s commitment to safeguarding our country and its people,” he continued.

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Nigerians were reassured by Agbese that the 10th House, led by Speaker Tajudeen Abbas, would guarantee the budget’s effective and transparent implementation.

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“Our dedication to making sure that every naira is distributed effectively, efficiently, and in the best interests of Nigerians will continue to guide us as we begin our examination of the proposal,” he stated.

National Assembly to Discuss Estimates of the Budget
Lawmakers hope to pass the proposed budget hike before the end of the month, and the National Assembly is anticipated to start discussing it in the upcoming weeks.

President Tinubu defended the proposed budget hike in a letter to the Senate and House of Representatives on Wednesday, citing the increased money that government agencies were able to collect.

The revenue boost consists of the following, according the letter:

1.4 trillion naira from FIRS, the Federal Inland Revenue Service;

The Nigeria Customs Service provided 1.2 trillion naira;

From other government-owned organizations, ₦1.8 trillion.