Nigeria’s President Bola Tinubu has raised the 2025 budget to 54.2 trillion naira ($36.4 billion), up from 49 trillion naira.
The president, in a letter to the Senate on Wednesday, attributed the increase to additional revenue from tax authorities, customs, and other government agencies.
Federal Inland Revenue Service contributed 1.4 trillion naira, while the Nigeria Customs Service generated 1.2 trillion naira, alongside 1.8 trillion naira from other agencies.
In December, the government announced that the 2025 budget included a deficit of 3.89% of GDP, totaling approximately 13 trillion naira.