High Expectations As Tinubu Prepares To Submit 2025 Budget

High Expectations As Tinubu Prepares To Submit 2025 Budget

The Senate has revealed that President Bola Tinubu is likely to present the 2025 budget within the week. Senator Yemi Adaramodu, the Senate spokesperson representing Ekiti South, disclosed that the Finance Committee will meet with Ministries,…..READ MORE 

Departments, and Agencies (MDAs) on Monday to discuss the Medium-Term Expenditure Framework (MTEF) and budget projections.

Adaramodu stated, “The President is expected to present the 2025 budget this week or very soon. The Finance Committee is already engaged with the MTEF, and MDAs will defend their 2024 expenditure while proposing their 2025 budgets.”

The MTEF, submitted last Tuesday, outlines critical benchmarks, including a $75 oil price per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a projected GDP growth rate of 6.4%. These parameters underpin the proposed N47.9 trillion budget.

The Senate President, Godswill Akpabio, tasked the Finance, National Planning, and Economic Affairs Committees to analyze the framework and submit a report within one week. Preparations are reportedly underway in the chamber to address any logistical challenges ahead of Tinubu’s presentation.

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