President Bola Tinubu is set to present the proposed 2025 annual national budget to a joint session of the National Assembly on Tuesday, December 17, 2024.
This was disclosed by the President of the Senate, Senator Godswill Akpabio, during the Senate’s plenary session on Thursday.
“The President has informed the National Assembly of his intention to present the 2025 budget to the joint session on December 17, 2024,” Akpabio stated.
The proposed budget, totalling N47.9 trillion, was earlier unveiled by the Minister of Budget and Economic Planning, Senator Atiku Bagudu.
LEADERSHIP reports that ahead of the President’s budget presentation, both chambers of the National Assembly had earlier approved the 2025–2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which provide the parameters for the 2025 budget.
Key parameters of the fiscal documents provide oil price benchmark: $75 per barrel; crude oil production target: 2.06 million barrels per day, and exchange rate: N1,400 to USD1, among others.