By Ubong Ukpong, Abuja

President Bola Ahmed Tinubu yesterday wrote to the National Assembly, jerking up the 2025 budget from initial N49.7 to N54.2 trillion.In a communication to the House of Representatives Speaker, Rt Hon Tajudern Abbas, the President said there was an availability of additional N4,53trn revenue for allocation.

The president in the letter said, “I am writing to inform you of the availability of additional revenue amounting to N4,530,479,970,637 and to propose its allocation within the 2025 Appropriation Bill to enhance the budget’s responsiveness to the nation’s most pressing priorities and aspirations. ”He gave an insight into this additional revenue, which he said was sourced from key agencies, representing a pivotal opportunity to address Nigeria’s critical challenges and advance its development agenda.A breakdown of the sourced revenue indicated as follows: Government-Owned Enterprises (GOES): N1,823,879,970,637, Federal Inland Revenue Service (FIRS): N1,497,600,000,000.Others were, Federal Government’s 52% share of the increase in revenue from N22.1 trillion to N25.1 trillion, Nigeria Customs Service (NCS): N1,209,000,000,000 and Federal Government’s 52% share of the increase in revenue from N6.5 trillion to N9.0 trillion.He proposed that, “these funds be allocated to the following transformative expenditure areas:”Solid Minerals Sector-N1 trillion. To support economic diversification by unlocking the potential of Nigeria’s vast solid mineral resources, which remain an untapped revenue stream and a vital pillar of non-oil growth.”Recapitalization of the Bank of Agriculture (BoA) N1.5 trillion: To transform Nigeria’s agricultural landscape, ensure food security, and empower smallholder farmers and agribusinesses.”Recapitalization of the Bank of Industry (Bol) N500 billion To provide critical support to small and medium enterprises (SMEs), drive local manufacturing, and reduce dependence on imports.”He identified and allocated funds to critical Infrastructure Projects (RHID Fund) – N1.5 trillion. Allocated as follows:Irrigation Development (through River Basin Development Authorities): N380 billion, transportation Infrastructure (roads and rail): N700 billion (300 billion for the construction and rehabilitation of critical roads and 400 billion for light rail network development in urban centers), and border Communities Infrastructure: N50 billion.Military Barracks Accommodation was allocated N250 billion, and Military Aviation got N120 billion.Other aspects of the letter reads as follows, “Justifications for allocations:i. Solid Minerals Sector – N1 trilliona Economic Resilience: Reduces reliance on volatile oil sector by creating alternative revenue streams.b. Regional Equity. Encourages development in resource-rich, underserved areas, boosting rural economies.c. Value Addition: Supports processing and export of minerals, increasing foreign exchange earnings.ii. Bank of Agriculture Recapitalization – N1.5 trilliona. Food Security: Empowers smallholder farmers and agribusinesses, improving access to affordable credit.b. Economic Growth: Enhances agricultural productivity and supports agro-industrial value chains.c. Export Competitiveness: Promotes the export of high-value crops, reducing pressure on the Naira.Bank of Industry Recapitalization – N500 billiona. SME Empowerment. Provides affordable financing for innovation and entrepreneurship.b. Job Creation: Drives industrial growth and supports local manufacturing, reducing unemploymentc. Revenue Growth: Expands the tax base through industrial expansion.iv. Critical Infrastructure (RHID Fund) – N1.5 trilliona. Irrigation Development: N380 billion will strengthen Nigeria’s capacity for year-round agricultural production, ensuring water security and boosting food supply.b. Transportation Infrastructure: N700 billion will modernize Nigeria’s road and rail networks, reducing costs, enhancing connectivity, and supporting economic activity.c. Border Communities Infrastructure: N50 billion will improve living standards and enhance the security of border regions, fostering stability and cross-border trade.d. Military Barracks Accommodation: N250 billion will provide modern and expanded housing for personnel, boosting morale and operational readinesse. Military Aviation: N120 billion will modernize Nigeria’s aviation capabilities, ensuring the military remains responsive to emerging security challenges.4. A Philosophical Case for Military Expenditure:The foundation of a thriving nation lies in its ability to protect its citizens. No infrastructure, no innovation, and no progress can be enjoyed or sustained without security. The government has a constitutional obligation to secure lives and property, and military expenditure is not merely a fiscal decision-it is a moral imperative. By investing in our armed forces, we affirm our resolve to end terrorism, safeguard the dignity of our people, and create conditions for economic prosperity. This budget reflects not only our commitment to securing Nigeria today but to building a future where every citizen can live and thrive without fear.5. Broader Justification:This allocation framework underscores the Administration’s dedication to fostering inclusive growth, addressing security challenges, and building resilience into Nigeria’s economic fabric. These investments will:i. Promote Stability By addressing critical infrastructure deficits, especially in underserved regions, and strengthening national securityii. Diversify Revenue: By investing in agriculture, solid minerals, and manufacturing. reducing over-reliance on oil revenues.iii. Catalyze Economic Growth: By enhancing infrastructure, supporting SMEs, and unlocking Nigeria’s vast economic potential.6. Request for Integration:Rt. Hon. Speaker, I urge the National Assembly to adopt and integrate these proposals into the 2025 Appropriation Bill, reflecting our shared commitment to national development. Kindly let me know if additional information or clarification is required.”