The 2025 federal budget has been raised from ₦49.7 trillion to ₦54.2 trillion, with the government citing increased revenue expectations from agencies like the Nigeria Customs Service and Federal Inland Revenue Service.
Minister of Budget and Economic Planning, Atiku Bagudu, stated that the review was approved by President Bola Tinubu after findings showed that government enterprises could generate more income.
Bagudu highlighted plans to allocate the additional funds to strengthen key financial institutions, invest in the solid minerals sector, and fund critical infrastructure projects.
The Medium-Term Expenditure Framework (MTEF) was also adjusted to reflect these changes.
