President Bola Tinubu will present the budget proposal for 2025 to the National Assembly on Tuesday.
The Senate President, Godswill Akpabio, disclosed this during plenary on Thursday.
The proposed 2025 budget will be President Tinubu’s second full budget to be presented to the NASS since his assumption of office in May 2023.
While speaking, Akpabio said the budget presentation will begin at 11:00 a.m. and be held in the House of Representatives chamber.
“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.
On December 3, the Senate approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) with a total spending of ₦47.9 trillion.
The expenditure framework was approved with a new borrowing plan of ₦9.22 trillion, constituting domestic and foreign borrowings.
The MTEF is a projection of the federal government’s three-year spending plan. The nation’s budget is predicated on this framework.
The framework was approved with an exchange rate of ₦1,400 to a dollar and adopted the oil prices of $75, $76.2, and $75.3 per barrel for 2025, 2026, and 2027 respectively.
