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NEWS

President Tinubu to present 2025 budget to N’Assembly on Tuesday

December 12, 2024 • 1 min read

December 12, 2024

By Ayinde Adeleke

President Bola Tinubu is set to present the 2025 Appropriation Bill to the National Assembly on December 17, 2024, according to Senate President Godswill Akpabio.

Akpabio made the announcement during the Thursday plenary session on the Senate floor.

The budget presentation will take place at the House of Representatives Chamber.

This development comes after Tinubu submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025-2027 to both the Senate and the House of Representatives last Tuesday.

The Senate Committee on Finance, National Planning, and Economic Affairs has been directed to consider the MTEF/FSP documents and report within one week.

Key parameters 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%.

These figures will form the basis for consideration and approval of the proposed N47.9 trillion 2025 budget.