Breaking: FEC Delays Budget Presentation As Final Refinements Take Place Ahead Of Tinubu’s Speech

Breaking: FEC Delays Budget Presentation As Final Refinements Take Place Ahead Of Tinubu’s Speech

The Federal Executive Council (FEC) has officially greenlit the 2025 budget proposal, setting the stage for President Bola Tinubu’s presentation to the National Assembly this Wednesday. Originally scheduled for today, the presentation was delayed to allow for final refinements….Breaking: FEC Delays Budget Presentation As Final Refinements Take Place Ahead Of Tinubu’s Speech

to the budget.

This follows the Senate’s approval of the Medium-Term Expenditure Framework (MTEF) 2025–2027 on November 22. The final budget proposal remains at a substantial N47.96 trillion, which includes an ambitious borrowing plan of N9.22 trillion to support key sectors.

Minister of State for Agriculture, Sabi Abdullahi, confirmed the rescheduling, stating that the adjustments were necessary to perfect the budget. Senate President, Godswill Akpabio, had initially set the date for today, but now all eyes are on Wednesday when the formal budget presentation will unfold.

The new budget, aligned with the government’s fiscal strategies, projects an oil benchmark price of $75 per barrel, aiming for 2.06 million barrels per day of oil production, and an exchange rate of N1,400 to the US dollar. Revenue projections stand at N34.82 trillion, with a significant N13.13 trillion deficit, which represents 3.89% of GDP.

This delay and the subsequent adjustments underscore the government’s commitment to ensuring the budget meets the necessary targets and assumptions. The revised presentation schedule signals the importance of getting everything right before it is formally presented for legislative approval.

Key discussions surrounding the budget indicate that while the presentation date has shifted, the government remains determined to meet its economic goals, with continued engagement between the executive and the legislature to ensure transparency and collaboration.

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