PRES. TINUBU SET TO PRESENT 2025 BUDGET PROPOSAL TO NASS TUESDAY
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On Tuesday, President Bola Tinubu will deliver the 2025 budget proposal to the National Assembly.
During Thursday’s plenary, Senate President Godswill Akpabio revealed this.
Since taking office in May 2023, President Tinubu has presented two complete budgets to the NASS, the first of which is the proposed 2025 budget.
Speaking, Akpabio announced that the budget presentation would take place in the House of Representatives chamber and start at 11:00 a.m.
“His Excellency, the president of the Federal Republic of Nigeria, has indicated his intention to bring the 2025 budget proposals and estimates to a joint sitting of the National Assembly on 17th day of December, 2024.
“That will be at 11:00 a.m., prompt. That will be at the House of Representatives as usual. I am talking about Tuesday next week,” Akpabio said.
The Fiscal Strategy Paper (FSP) and the Medium Term Expenditure Framework (MTEF) for 2025–2027, which total N47.9 trillion in spending, were adopted by the Senate on December 3.
A fresh borrowing plan of N9.22 trillion, which included both domestic and foreign borrowings, was approved along with the expenditure framework.
The federal government’s three-year expenditure plan is projected in the MTEF. This framework serves as the foundation for the country’s budget.
The framework adopted oil prices of $75, $76.2, and $75.3 per barrel for 2025, 2026, and 2027, respectively, and was approved at an exchange rate of N1,400 to the dollar.
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