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N54tn budget: Experts blast Tinubu over additional N4.5tn
Some players in the Nigerian economy have shared different views following the decision of the Federal Government to increase the 2025 Appropriation Bill from N49.7tn to N54.2tn on the back of additional revenues generated by key government agencies.
On Wednesday, letters from President Bola Tinubu were read on the floor of the Senate indicating the adjustments in the yet-to-be-passed budget.
The President conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by the Senate President, Godswill Akpabio.
Tinubu presented a N49.7tn budget proposal, themed ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity,’ to the National Assembly in November.
The Federal Government projects a total revenue of N36.35tn for 2025, anchored on improved non-oil revenue generation. This includes expanded tax collections, customs duties, and independent revenue from government-owned enterprises, alongside oil revenue projections based on a crude oil benchmark of $75 per barrel, a production target of 2.06 million barrels per day, and an exchange rate of N1,500 per USD.
The total expenditure of N49.7tn includes significant allocations to critical sectors while targeting a fiscal deficit of N13.39tn (3.96 per cent of GDP). This deficit will be financed through domestic and external borrowings as well as innovative public-private partnership arrangements.
Tinubu said the increase was driven by N1.4tn in additional revenue from the Federal Inland Revenue Service, N1.2tn from the Nigeria Customs Service, and N1.8tn generated by other government agencies. Following the reading of the letter, Akpabio referred the President’s request to the Senate Committee on Appropriations for urgent consideration.
He also assured lawmakers that the budget would be finalised and passed before the end of February.
President Tinubu had in a letter read on the floor of the Senate and House of Representatives same day premised the request to increase the budget proposal to additional revenue generated by key agencies of government.
According to the letter, the Federal Inland Revenue Service generated N1.4tn, the Nigeria Customs Service generated N1.2tn while the sum of N1.8tn was generated by other government-owned agencies.
The Federal Government said the increase would also support its diversification programme by investing more into the solid minerals sector and infrastructure projects.
The Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to journalists after he saw off President Bola Tinubu to the Nnamdi Azikiwe Airport, Abuja, en route to France.
In a letter dated February 3, 2025, addressed to the Speaker of the House of Representatives, Tajudeen Abbas, Tinubu sought an additional N4.5tn to the 2025 Appropriation Bill being considered by the National Assembly.
Explaining the rationale for the adjustment, Bagudu said it was established that the government-owned enterprises, including the Nigeria Customs Service, could contribute more revenue.
He said, “You will recall, Mr President submitted the N49tn budget to the National Assembly, and legislative work commenced.
“The legislative work continued with interactions between the executive and the National Assembly. The National Assembly and the Economic Management Team continued to interrogate all figures.
“In that process, the Senate Committee on Appropriation, Senate Committee on National Planning, and Senate Committee on Finance established that we can generate more revenue by tasking all the institutions to do more, and the Federal Inland Revenue Service confirmed the ability to do more than was submitted.”
He added, “Equally, it was established that the government-owned enterprises could contribute more revenue, as well as the Customs Service.
“So, additional revenue amounting to over N4.5tn was established, and this was taken to the President.
“And guided that this additional revenue should be used further to strengthen the Bank of Agriculture, Bank of Industry, support the diversification programme by putting more money in the solid minerals sector and infrastructure projects.”
However, economist and sustainability expert Marcel Okeke slammed the government for the impromptu increment.
“The world has started doing all that they want to do about Nigeria, on Nigeria, for Nigeria, and with Nigeria based on those figures. We are talking about institutions; analysts all over the world have been using those figures. You may not understand the enormity of this move. Because of the mood that we are in now, people may be clapping that FG saw more money and brought it, but that is not how to do a budget. Who says they will not come back again before the National Assembly finishes the job? My position is that they should have waited and come up with a supplementary budget.”
Chief Economist and Partner at SPM Professionals, Paul Alaje, also raised concerns about the effect of the increased spending on the inflation target of the federal government, which was 15 per cent.
Alaje said, “I think it is straightforward. Number one, FG is claiming that because some agencies of government are now generating more revenue, therefore, they feel we can spend more. Also, I think the real reason is that there seem to be some projects that had been exempted from the 2025 budget, and the government thought it important to add them back to the budget.
“These are some of the factors for the government adding to the 2025 budget, but with this amount in the economy, you should note that the government’s expectation of 15 per cent inflation may remain a mirage.”
Managing Director of Arthur Steven Asset Management Limited, Tunde Amolegbe, sees this as a welcome development that would enable infrastructural growth.
He said, “I have always been an advocate for an ambitious budget because that’s the only way we can improve our grossly inadequate infrastructure before we can even contemplate gravitating towards a productive economy. On a per capita basis, if you look at our budget, we are way below that of countries with similar demographics in terms of population and age. How then do we hope to lift our people out of poverty when the government itself isn’t spending enough to raise people’s standard of living?”
Sounding a note of caution, Amolegbe, a former president of the Chartered Institute of Stockbrokers, affirmed that it is important “that we keep our eye on ratios such as debt-to-revenue and debt-to-GDP to ensure we do not tip into over-leveraged territory.”
A leading economist, who spoke on condition of anonymity, faulted the budget proposal raise, saying it would worsen the economy.
He said, ‘”Why would government raise the budget when its deficit is running to almost N16tn. The deficit is hitting up the economy. With all these borrowings here and there, government should have simply reduced the deficit. By the way, how are we sure the government will even generate up to the budgeted amount. Over the years, have we been generating enough to meet the revenue target? We don’t have that track record.”
Meanwhile, the House of Representatives has thrown its weight behind President Tinubu’s proposal to the National Assembly to increase the 2025 budget proposal from N49.7tn to N54.2tn, saying the development is driven by additional revenue from key government agencies.
After reading the letter on the floor of the Senate and House of Representatives on Wednesday, Senate President, Godswill Akpabio, and the Deputy Speaker of the House of Representatives, Benjamin Kalu, who presided over plenary sessions at the Red and Green Chambers respectively, referred it to the Committees on Finance and Appropriations for quick consideration.
This is even as the Senate President assured Nigerians that the 2025 budget proposal would be passed before the end of February.
In an interview with The PUNCH, the spokesman of the House of Representatives, Akin Rotimi, stated that the parliament had a way of handling such requests.
“We have legislative processes on this and other such matters. The executive proposal has been referred to the House Committee on Appropriations for further legislative action,” he said.
The Federal Road Safety Corps (FRSC) has announced the demise of its Enugu State Sector Commander, Corps Commander Franklin O Agbakoba.
This is contained in a statement issued by FRSC Deputy Corps Commander in-charge of Enugu State Operations, DCC Kyrian C Okolo, on Friday in Enugu.
“FRSC Enugu State Sector Command received the sad news of the demise of CC Franklin Agbakoba on Thursday, July 30,2026.
“The late Sector Commander died at Niger Foundation Hospital, Enugu where he was receiving treatment.
“His corpse have been deposited at the Eastern Medical Center, Enugu,” he said.
Until his death,CC Franklin Agbakoba made inter-agency collaboration and partnership his legacy and promoted safer roads within Enugu State.
The family’s head, Imo Aguiyi-Ironsi, made the demand during an interview with Arise News on Thursday.
“I think the family needs apology. The family needs to be compensated. We need sincere apology. We need sincere reconciliation,” he said.
He described his uncle as a visionary leader who was wrongly punished for a coup he had no role in.
“He was a man of vision. He was a detribalized Nigerian. He was a good leader,” he said.
Imo Aguiyi-Ironsi noted that his uncle’s tenure as Head of State was brief and ended violently.
“He occupied the seat of head of state for only six months, and he was taken away from us.
“Not because of a sin he committed, because he wasn’t part of the January 1966 coup.”
According to him, Aguiyi-Ironsi’s death resulted from his position rather than any wrongdoing on his part.
“Only because of his position as the most senior military officer, he was told to take charge. And then that cost him his life,” he said.
He expressed hope that his appeal would reach those with the power to act on it.
“Well, I hope there are people who are in positions to make this happen that are listening to you tonight,” he said.
Aguiyi-Ironsi served as Nigeria’s Head of State from January 16 to July 29, 1966, taking charge in the aftermath of the January 15, 1966 coup that had claimed the lives of the country’s political leadership.
He survived that coup and helped crush the mutiny, but his later decision to centralise power under Decree 34, along with his failure to prosecute the plotters, fuelled resentment among northern officers.
He was killed on July 29, 1966, alongside his host, Lieutenant Colonel Adekunle Fajuyi, in a mutiny by northern soldiers that became known as the July counter-coup
The directive was contained in a memorandum dated July 13, 2026, and signed by the Chief Registrar of the Supreme Court, Kabir Akanbi.
Addressed to litigation staff, legal practitioners, court registrars and lawyers, the circular said the order took immediate effect and formed part of efforts to uphold professional standards within the apex court.
The memorandum read, “I am directed by the Honourable the Chief Justice of Nigeria to notify all Litigation Staff, Legal Practitioners, Court Registrars, and Lawyers that the use of the title ‘Barrister’ as a prefix to names is inappropriate and inconsistent with the standards of professionalism expected within the Supreme Court of Nigeria.”
It further directed all affected officers to immediately stop using the title in official correspondence and other official materials.
The memo stated, “Consequently, all officers concerned are hereby directed to discontinue the use of the title ‘Barrister’ before their names in all official correspondence, records, documents, identity materials, and any other official engagements with immediate effect.”
The memorandum added, “Heads of Departments and Unit Heads are requested to ensure strict compliance with this directive by all officers under their supervision. Please be guided accordingly.”
The directive comes weeks after the Council of Legal Education cautioned prospective lawyers against wearing wigs and gowns or presenting themselves as qualified legal practitioners before they are formally called to the Nigerian Bar.
The council said such conduct undermined the dignity of the legal profession and warned that violators could face disciplinary measures.
It also reminded candidates that the use of legal regalia is governed by the Rules of Professional Conduct and is reserved for duly qualified legal practitioners
The Enugu State Government says it has intensified fight against quackery across all health professions, particularly in the laboratory practice within the state.
The Commissioner for Health, Prof. George Ugwu, revealed this on Friday while receiving the National President of Association of Medical Laboratory Scientists of Nigeria (AMLSN), Dr. Casimir Ifeanyi, on a courtesy visit to his office in Enugu.
Ugwu decried the growing trend of unprofessional practices and establishments where laboratory services are combined with pharmacies, patient treatment areas, provision stores, and other unauthorised activities.
According to him, such practices are unacceptable and dangerous to public health.
He reaffirmed the government’s resolve to eliminate quackery especially in laboratory practices and operations through sustained monitoring, regulation and enforcement.
The commissioner also commended the association for its dedication to promoting excellence in medical laboratory science and public health advocacy.
He assured the team of the ministry’s willingness to collaborate with professional bodies whose activities align with the government’s vision of delivering accessible, quality, and people-centred healthcare services across the state.
Ugwu stressed the remarkable strides recorded under the administration of Gov. Peter Mbah in transforming the health sector, including investments in healthcare infrastructure, workforce development, primary healthcare revitalisation and improved service delivery.
He urged the association to remain steadfast in upholding professionalism and ethical standards, emphasising that stronger partnerships between government and healthcare professionals remained essential in building a healthier Enugu State.
Earlier, Ifeanyi, who made the visit with some members of his national executive and Enugu State Chapter of AMLSN, briefed the commissioner on the association’s forthcoming AMLSN Annual Public Health Lecture.
He solicited the state government’s goodwill, support and participation in the event, which would be held in Enugu.
“The annual lecture is aimed at advancing quality healthcare delivery, promoting public health awareness, and fostering stronger collaboration among healthcare professionals and government institutions,” he said.
He noted that the association remained committed to improving professional standards and supporting initiatives that would enhance healthcare outcomes for residents of Enugu State and Nigeria at large.
…Inaugurates Amufie Town Union executives
By Chinedu Sabastine
The Enugu State Government has urged Town Union President Generals (PGs) across the state to adopt inclusive leadership that promotes peace, unity and sustainable development in their communities.
The Commissioner for Chieftaincy Affairs and Rural Development, Chief Charles Egumgbe, gave the charge on Wednesday while inaugurating the newly elected 14-member executives of the Amufie Town Union in Igbo-Eze North Local Government Area.
The executive committee, led by the President-General, Engr. Kenneth Okechukwu Ogili, was presented with certificates of return at the ministry’s headquarters in Enugu.
Egumgbe urged the new leadership to ensure transparency, accountability and regular engagement with members, stressing that women and youths must be carried along in decision-making.
He advised the executives against operating exclusive caucuses, noting that town union affairs should be conducted openly through regular meetings where decisions are collectively taken.
“You must carry everybody along. Let your policies be all-inclusive and ensure that members are well informed about your activities. Matters should be tabled before the executive and decisions reached collectively,” he said.
The commissioner warned against abuse of office, particularly in matters relating to community land, stressing that anyone found working against the interest of the community could be removed under the state’s Town Union law.
“I don’t know whether you will receive remuneration because this is service to humanity. But whatever you do, don’t sell community land illegally. Land has a way of fighting for itself,” he cautioned.
Responding, the new inaugurated President-General, Ogili, pledged to lead with transparency and work closely with his executive to promote peace, unity and development in Amufie.
He said the administration would prioritise security by strengthening the neighbourhood watch and collaborating with security agencies to flush out criminals from identified flashpoints.
Ogili also promised to maintain a cordial working relationship with the traditional ruler of the community.
“The Igwe is our father. We have different constitutional roles, and there will be no conflict between us. We shall work harmoniously for the peace and progress of Amufie,” he said.
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