President Tinubu will present 2025 Budget of N47.9 trillion to National Assembly
President Bola Tinubu
President Tinubu will present 2025 Budget of N47.9 trillion to National Assembly
President Bola Tinubu will formally present the 2025 Appropriation Bill to a joint session of the National Assembly on Tuesday, December 17, 2024.
Senate President Godswill Akpabio confirmed this during Thursday’s plenary session.
Akpabio announced that the budget presentation would take place in the House of Representatives Chamber, marking a significant step in the legislative process for the fiscal year.
“The president has informed the National Assembly of his intention to present the 2025 budget to the joint session on December 17,” Akpabio stated during the plenary.
The proposed budget, pegged at N47.9 trillion, is underpinned by the key economic assumptions outlined in the Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) for 2025–2027. President Tinubu had submitted these documents to the Senate and House of Representatives earlier this month.
The MTEF/FSP includes a $75 per barrel oil price benchmark, a daily oil production target of 2.06 million barrels, an exchange rate of N1,400 to $1, and a projected GDP growth rate of 6.4%.
The Senate President has directed the Finance, National Planning, and Economic Affairs Committee to review the MTEF/FSP and submit its report within one week, ahead of the budget presentation.
