Gist
FG Explains Why Tinubu Approves ₦54.2 Trillion For 2025 budget – Here’s The Reason
FG Explains Why Tinubu Approves ₦54.2 Trillion For 2025 budget – Here’s The Reason
The federal government has explained the reason behind the increase in the 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing the potential for revenue-generating institutions to contribute more funds.
Minister of Budget and Economic Planning, Atiku Bagudu, revealed this on Wednesday after President Bola Tinubu departed for France from Nnamdi Azikiwe Airport, Abuja…….READ MORE
He stated that following a thorough review by both the executive and legislative arms, it was determined that government-owned enterprises, including the Nigeria Customs Service (NCS) and the Federal Inland Revenue Service (FIRS), have the capacity to generate additional revenue.
Bagudu explained that the findings were presented to President Tinubu, who approved the ₦4.5 trillion increase in the 2025 Appropriation Bill, currently under consideration at the National Assembly.
He added that the additional revenue will be directed towards strengthening the Bank of Agriculture and the Bank of Industry, supporting economic diversification by investing in the solid minerals sector, and funding key infrastructure projects.
Bagudu further noted that the Medium-Term Expenditure Framework (MTEF) had to be adjusted accordingly to align with the revised budget, ensuring that all financial projections remain accurate.
-
Politics1 week agoTinubu Makes Fresh Appointment
-
Latest News10 hours agoBreaking Political Barriers: Okpebholo Names Enugu-born Igbo Leader to Edo Cabinet
-
Politics2 days agoTinubu Makes New Ambassadorial Appointments, Seeks Senate Confirmation
-
Latest News6 days agoBreaking: Okpebholo Backs Words With Action As Edo Moves To Establish Special Court For Cultism And Kidnapping Cases, Writes Chief Judge
-
Politics2 weeks agoAPC Rules Out Any Review Of 2027 Primary Election Results
-
Latest News6 days agoBandits’ Captivity Death: Widow Rejects Illness Claims, Reveals What K!lled General Rabe
-
Latest News3 days agoOjirami Shines at Night: Akoko-Edo Residents Hail Engr. Abubakar Momoh Over NDDC Solar Street Light Project
-
Politics1 week ago36 Governors Reveal Their Stance On State Police
-
Latest News2 weeks agoObasanjo Teases Abdulsalami: “I And Gowon May Not Be Alive When You Hit 100
-
Politics5 days agoVIDEO: Shettima, Atiku, Masari, Governors Storm Special Prayer For Tinubu’s Late Mother
-
Entertainment1 week agoDayo Amusa Blasts Peter Obi: “You Can’t Criticize Government And Hide Your Plans
-
Latest News2 weeks agoKidnap Suspects Reveal How They Abducted Adelabu’s Sister And Twin Sons