Nigeria’s 2025 Budget Soars to $36.4 Billion Amid Revenue Boost

Nigeria’s President, Bola Tinubu, announced a significant increase in the country’s 2025 budget, raising it to 54.2 trillion naira ($36.4 billion), up from the previous figure of 49 trillion naira.

The decision, which was shared in a letter to the Senate on Wednesday, comes as a result of improved revenue collection by several key government agencies.

According to Tinubu, the growth in the budget is largely due to additional income generated by Nigeria’s revenue-collecting bodies, including the Federal Inland Revenue Service (FIRS), Nigeria Customs Service, and other agencies.

The FIRS contributed 1.4 trillion naira, while the Nigeria Customs Service added 1.2 trillion naira to the coffers, with other agencies contributing another 1.8 trillion naira.

This budget increase reflects the government’s efforts to harness more revenue and address the nation’s economic challenges.

In December, the government revealed that the 2025 budget plan would come with a deficit of 3.89% of the country’s gross domestic product (GDP), which translates to approximately 13 trillion naira.

The budget is seen as a critical step in Nigeria’s ongoing economic recovery and development strategy.

By relying on stronger revenue streams, the administration aims to manage the nation’s fiscal needs while focusing on key infrastructure projects, social programs, and economic reforms.