Bola Tinubu
Audio By Carbonatix
Nigeria's President Bola Tinubu has increased the size of the 2025 budget to 54.2 trillion naira ($36.4 billion) from 49 trillion naira, he said in a letter to the Senate published on Wednesday.
The president said the increase was due to additional revenue from the government's revenue-collecting agencies, such as the tax authority, customs and other agencies.
He added that extra revenue from the Federal Inland Revenue Service (FIRS) was 1.4 trillion naira while Nigeria Customs Service fetched 1.2 trillion naira and other agencies got 1.8 trillion naira.
In December, the government said the 2025 spending plan included a budget deficit of 3.89% of gross domestic product, approximately 13.0 trillion naira.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Scaling Together: Prudential Bank MD’s advice on fintech‑bank partnerships in Africa
18 minutes -
Joe Mettle inspires hope with new song ‘This Year’
39 minutes -
Antisemitism ‘allowed to come into the open’ says Bondi victim’s daughter
1 hour -
What Is Wrong with Us? Why do we Reject Colonialism yet Cling to its Titles?
1 hour -
World Bank pushes regional health strategy to close financing gaps in West and Central Africa
2 hours -
Britney Spears pleads guilty to reckless driving after arrest
2 hours -
Parentage, not paternity: Ghana’s proposed compulsory paternity testing bill sparks fears of discrimination against mothers
2 hours -
Samsung family pays off record $8bn inheritance tax bill
2 hours -
Spain seizes record amount of cocaine in Atlantic Ocean, authorities say
2 hours -
Two killed and many injured after car driven into crowd in German city of Leipzig
2 hours -
KiDi drops ‘Signature’ with Lasmid ahead of album release
2 hours -
UAE accuses Iran of renewed drone and missile attacks
2 hours -
Giuliani recovering from pneumonia and ‘now breathing on his own’
2 hours -
Blake Lively and Justin Baldoni settle lawsuit over It Ends With Us film
2 hours -
Devastating fire destroys house in Okpoi Gonno
2 hours