President Bola Tinubu is set to present the 2025 budget to a joint session of the National Assembly on Tuesday, December 17. Senate President Godswill Akpabio made the announcement during Thursday’s plenary session.
The budget presentation will take place in the House of Representatives’ chamber. This follows President Tinubu’s submission of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025-2027 to the Senate and House of Representatives on December 10.
The Senate Committee on Finance, National Planning, and Economic Affairs has been tasked with reviewing the MTEF/FSP documents and providing a report within a week.
The MTEF/FSP outlines key economic assumptions, including an oil price benchmark of $75 per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a GDP growth target of 6.4%. These parameters will guide the consideration and approval of the proposed N47.9 trillion 2025 budget.
