President Bola Tinubu will present the 2025 Appropriation Bill to the National Assembly on Tuesday, December 17, 2024, according to Senate President Godswill Akpabio.
Akpabio announced this during Thursday’s plenary, stating that the presentation will occur at the House of Representatives Chamber.
“The president has informed the National Assembly of his intention to present the 2025 budget to a joint session on December 17,” Akpabio said.
Ahead of the presentation, Tinubu submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to both legislative chambers. The Senate Committee on Finance, National Planning, and Economic Affairs has been tasked to review these documents and report back within a week.
Key highlights of the MTEF/FSP include:
– Oil price benchmark:$75 per barrel
– Daily oil production: 2.06 million barrels
– Exchange rate: N1,400 to $1
– Target GDP growth rate:6.4%
These parameters will guide the approval of the proposed N47.9 trillion 2025 budget.
