National Assembly moves Tinubu’s budget presentation to Wednesday
The National Assembly is contemplating moving President Bola Tinubu’s budget presentation to Wednesday.
Minister of Information and National Orientation, Mohammed Idris, stated that only the National Assembly has the authority to set the date for the president’s budget presentation.
Idris shared this update on Monday following the Federal Executive Council (FEC) meeting, noting ongoing discussions with the National Assembly. While the initial date for the 2025 Appropriation Bill presentation was set for Tuesday, Wednesday is now being considered.
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This will be Tinubu’s second full budget presentation since he assumed office in May 2023.
On December 3, the Senate approved the 2025-2027 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which projects a total spending of ₦47.9 trillion. The plan includes a new borrowing target of ₦9.22 trillion, combining both domestic and foreign loans.
The MTEF outlines the federal government’s three-year spending plan, forming the basis for the national budget. It was approved with an exchange rate assumption of ₦1,400 to the dollar and oil price projections of $75, $76.2, and $75.3 per barrel for 2025, 2026, and 2027, respectively.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime
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