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FEC approves ₦47.9 trillion budget for 2025

By Maryam Umar
Estimated reading time: Less than 1 minutes

FEC approves ₦47.9 trillion budget for 2025

The Federal Executive Council (FEC) has approved a proposed budget of ₦47.9 trillion for 2025, as disclosed by Atiku Bagudu, Minister of Budget and Economic Planning on Thursday.

The minister said the budget is part of the Medium Term Expenditures Framework (MTEF) for 2025 to 2027, which aligns with the Fiscal Responsibility Act of 2007.

READ ALSO: FG approves Kogi’s plan to build international airport in Zariagi

The FEC also approved the submission of this proposal to the National Assembly, as required by law.

The proposed budget projects a Gross Domestic Product (GDP) growth rate of 4.6 per cent and oil production of 2.06 million barrels per day.

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