presents N47.9trn 2025 budget to joint session of National Assembly Tuesday
NASSNEWS
President Bola Tinubu will on Tuesday, December 17, 2024 present the N47.9 trillion 2025 budget proposal to the joint session of the National Assembly.
Senate President, Godswill Akpabio disclosed this on Thursday before adjourning plenary session.
While making the announcement, Akpabio urged all senators to be in the Red Chamber at 10.30am from where they would proceed to the Green Chamber in the House of Representatives for the joint session of budget presentation.
The Federal Executive Council (FEC) had on November 15, approved N47.9trn budget for the 2025 fiscal year.
The Minister of Budget and National Planning, Senator Atiku Bagudu, disclosed this in a briefing to State House media after the FEC meeting.
He said the council approved the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025-2027, adding that the government pegged the crude oil benchmark at $75 per barrel and oil production at 2.06 million barrels per day.
The proposed 2025 budget will have an exchange rate pegged at N1,400 to $1, and the government is targeting a GDP growth of 6.4%.