President Bola Ahmed Tinubu is scheduled to present the 2025 budget, amounting to ₦47.9 trillion, to the National Assembly (NASS) on Tuesday, December 17, 2024.
This announcement was made by the Senate President during a plenary session on Thursday, December 12, 2024.
He stated, “The president has informed the National Assembly of his intention to present the 2025 budget to a joint session of the National Assembly on December 17, 2024.” The presentation will take place in the House of Representatives Chamber.
Last Tuesday, Tinubu submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to both the Senate and the House of Representatives. Senate President Akpabio directed the Senate Committee on Finance, National Planning, and Economic Affairs to review the documents and submit their report within one week.
The MTEF/FSP outlines key parameters that will shape the proposed budget, including:
- Oil price benchmark: $75 per barrel
- Daily oil production: 2.06 million barrels
- Exchange rate: ₦1,400 to $1
- Projected GDP growth rate: 6.4%
These benchmarks will guide the consideration and approval of the ₦47.9 trillion 2025 budget.
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Opeoluwa Benson – Content Researcher
