Abuja, Nigeria
President Bola Ahmed Tinubu will on Tuesday, 17th December 2024 present the 2025 appropriation bill to the national assembly.
Godswill Akpabio, Senate President made this known on Thursday during the Senate plenary.
“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.
In November, the federal executive council proposed N47.9 trillion for the 2025 budget.
The medium-term expenditure framework and fiscal strategy paper (MTEF/FSP) for 2025–2027 was submitted to the national assembly on November 19 by the President.
The MTEF/FSP serves as the basis for the budget of the country and also serves as a projection of a three-year spending plan of the federal government.
In the MTEF/FSP, the oil benchmark per barrel was put at $75, including daily oil production of 2.06 million barrels per day (bpd), an exchange rate of N1,400 to $1, and a targeted gross domestic product (GDP) growth rate of 6.4 percent.
