President Bola Tinubu will present the 2025 budget to a joint session of the National Assembly next Tuesday, December 17.
The announcement was made by Senate President Godswill Akpabio during Thursday’s plenary session. The budget presentation will take place at the House of Representatives chamber.
President Tinubu previously submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) 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 tasked with reviewing the MTEF/FSP documents and submitting a report within one week.
Key parameters in the MTEF/FSP include an oil price benchmark of $75 per barrel, daily oil production of 2.06 million barrels, an exchange rate of ₦1,400 to $1, and a projected GDP growth rate of 6.4%.
These figures serve as the foundation for the consideration and approval of the proposed ₦47.9 trillion budget for 2025.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.
