Tinubu presents ₦47.9tn 2025 budget proposal to NASS
President Bola Tinubu has presented a 2025 budget estimate of ₦47.9 trillion to a joint session of the National Assembly (NASS).
Lawmakers from both the House of Representatives and the Senate gathered on Wednesday for the presentation of Tinubu’s second budget proposal.
Accompanying the President were key government officials, including the Secretary to the Government of the Federation, George Akume, and the Chief of Staff to the President, Femi Gbajabiamila.
Originally scheduled for Tuesday, the presentation was moved to Wednesday following a meeting of the Federal Executive Council (FEC) at the Presidential Villa in Abuja, where the budget estimate was approved.
Minister of Budget and National Planning, Atiku Bagudu, disclosed that the 2025 expenditure plan is set at ₦47.96 trillion, marking a 36.8% increase from the 2024 estimate. The 2025 Appropriation Bill is based on an oil price benchmark of $75 per barrel, an oil production target of 2.06 million barrels per day, and an exchange rate of ₦1,400 to $1.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.
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