2025-budget
Senate President Godswill Akpabio has revealed that President Bola Tinubu will deliver the 2025 Appropriations Bill to the National Assembly on Tuesday.
Akpabio made this known during the announcement at the Thursday plenary on the floor of the Senate.
He said, “The president has made his intention known to the National Assembly to present the 2025m budget to the joint session of the National Assembly on the 17th of December, 2024.”
Akpabio announced that the budget presentation will take place at the House of Representatives Chamber.
Tinubu had earlier submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025–2027 to both the Senate and the House of Representatives last Tuesday.
Akpabio directed the Senate Committee on Finance, National Planning, and Economic Affairs to consider the MTEF/FSP documents and report within one week.
Key parameters in the MTEF/FSP include a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%.
These figures form the basis for consideration and approval of the proposed N47.9tn 2025 budget.
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