UPDATE: FEC APPROVES N47.9TN BUDGET FOR 2025
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The proposed national budget of ₦47.9 trillion for the fiscal year 2025 has been approved by the Federal Executive Council.
Atiku Bagudu, the Minister of Budget and Economic Planning, revealed this to State House reporters Thursday following the FEC meeting chaired by President Bola Tinubu.
This was in accordance with the Fiscal Responsibility Act of 2007 and was a component of the Medium-Term Expenditures Framework, or MTEF, for 2025–2027.
As mandated by the 2007 Fiscal Responsibility Act, the FEC authorized its submission to the National Assembly during the meeting.
According to the framework, oil production would reach 2.06 million barrels per day, the GDP would rise at a pace of 4.6 percent, and the naira would be worth $75.
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