By Mercy Adi
President Bola Tinubu is set to present the 2025 budget proposal to the National Assembly on Tuesday, December 17. The proposed budget, which stands at N47.9 trillion, has already been approved by the Federal Executive Council (FEC).
According to Senate President, Senator Godswill Akpabio, all senators are expected to be in the Chamber by 10:30 a.m. on the day of the presentation, after which they will proceed to the House of Representatives for the joint session.
Recall, that the Minister of Budget and National Planning, Senator Atiku Bagudu, had on November 15, in a briefing to State House media after the FEC meeting, revealed that the FEC approved the Medium-Term Expenditure Framework (MTEF) for 2025-2027, with a crude oil benchmark of $75 per barrel and oil production at 2.06 million barrels perday.
The proposed budget also includes an exchange rate of N1,400 to $1 and targets a GDP growth rate of 6.4%. Senator Bagudu noted that the fiscal objectives were conservative, as the government aims to study the course and ensure that projections are exceeded.