Tinubu To Present 2025 Budget
President Bola Tinubu is expected to present the 2025 Appropriation Bill to the National Assembly on Tuesday.
The development was communicated by the Senate President, Godswill Akpabio.
“The president has made his intention known to the National Assembly to present the 2025 budget to the joint session of the National Assembly on the 17th of December, 2024,” Akpabio said during the announcement at the Thursday plenary on the floor of the Senate.
Akpabio announced that the budget presentation would take place at the House of Representatives Chamber.
This move follows the submission of the medium term expenditure framework of the government by the lawmakers.
According to the MTEF, the 2025 budget is expected at N47.9 trillion and is the highest in the country’s history.
The Senate Committee on Finance, National Planning, and Economic Affairs is expected to consider the MTEF/FSP documents and report within one week.
Key estimations in the MTEF/FSP include a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%.
