President Bola Tinubu is set to present the 2025 budget proposal to the National Assembly on Tuesday, December 17, 2024.
Senate President Godswill Akpabio shared this update during Thursday’s plenary session. According to Akpabio, the presentation will take place at 11:00 a.m. in the House of Representatives chamber.
This marks President Tinubu’s second full budget since assuming office in May 2023.
Akpabio stated, “The president will address a joint session of the National Assembly to unveil the 2025 budget proposals and estimates at 11:00 a.m. on Tuesday, in the House of Representatives chamber.”
Earlier, on December 3, the Senate approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which includes a projected total spending of ₦47.9 trillion.
The framework outlines a borrowing plan of ₦9.22 trillion, combining domestic and foreign loans. It also sets the exchange rate at ₦1,400 to a dollar and projects oil prices at $75, $76.2, and $75.3 per barrel for 2025, 2026, and 2027 respectively.
The MTEF serves as a foundation for the federal government’s budget, outlining spending priorities over a three-year period.
