President Bola Ahmed Tinubu is set to present the 2025 budget to the joint assembly of the National Assembly on December 17th, next Tuesday at the House of Representatives’ chamber.
This was disclosed by the Senate President, Godswill Akpabio, during plenary session on Thursday.
President 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.
The Senate Committee on Finance, National Planning, and Economic Affairs has been 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%.
These figures form the basis for consideration and approval of the proposed N47.9tn 2025 budget.
