Breaking: Tinubu To Present ₦47.9 Trillion Budget Proposal To National Assembly This Week

The Senate has confirmed that President Bola Tinubu is set to present the 2025 budget, estimated at ₦47.9 trillion, to the National Assembly this week. This follows the recent submission of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to...READ MOORE…

both the Senate and the House of Representatives.

The MTEF/FSP outlines key economic parameters that will guide the budget process, including a $75 per barrel oil price benchmark, daily oil production of 2.06 million barrels, an exchange rate of ₦1,400 to $1, and a targeted GDP growth rate of 6.4%.

Senate President Godswill Akpabio has instructed the Senate Committee on Finance, National Planning, and Economic Affairs to review the MTEF/FSP and submit their report within one week.

The ₦47.9 trillion budget will mark President Tinubu’s first full-year budget since taking office, with a focus on critical sectors such as infrastructure, security, and economic recovery.

According to Senate spokesperson Yemi Adaramodu (APC, Ekiti South), the Finance Committee will hold discussions with Ministries, Departments, and Agencies (MDAs) on Monday. Adaramodu noted, “The President is expected to present the 2025 budget this week or in the coming days. The Senate Committee on Finance is already working on the MTEF, and the MDAs will defend their 2024 expenditures and present projections for 2025.”

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