Nigeria's ...
Nigeria's President Increases 2025 Budget to $36.4 Billion
In a significant development, President Bola Tinubu has announced an increase in Nigeria's 2025 national budget, raising it from the previously proposed 49 trillion naira to 54.2 trillion naira (approximately $36.4 billion). This adjustment is attributed to additional revenues collected by government agencies, including the Federal Inland Revenue Service (FIRS), which contributed 1.4 trillion naira; the Nigeria Customs Service, which added 1.2 trillion naira; and other agencies, which collectively provided 1.8 trillion naira.
The revised budget includes a deficit of 3.89% of the Gross Domestic Product (GDP), amounting to approximately 13.0 trillion naira. This fiscal plan aims to address various economic challenges and support the government's development initiatives.
The increase in the national budget reflects the government's efforts to enhance economic stability and fund critical infrastructure projects. The additional revenue is expected to bolster the country's financial position and support sustainable growth.
Market Nigeria - News Service
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