President Bola Tinubu will present the 2025 budget to the National Assembly on Tuesday, December 17, 2024.
Senate President Godswill Akpabio disclosed this during plenary in Abuja on Thursday, December 12.
“The president has made his intention known to the National Assembly to present the 2025 budget to the joint session of the National Assembly on the 17th of December, 2024,” Akpabio said.
The Senate President added that the budget presentation will be held at the House of Representatives’ chamber.
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The federal government had, on November 14, proposed N47.9 trillion as the total expenditure in the 2025 budget.
Tinubu later submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025-2027 to both the Senate and the House of Representatives.
The Senate Committee on Finance, National Planning, and Economic Affairs was directed 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%.
The expenditure framework also has a new borrowing plan of N9.22 trillion which constitutes both domestic and foreign borrowings.
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