December 18, (THEWILL) – President Bola Tinubu has arrived at the National Assembly complex for the presentation of the 2025 Appropriation Bill of N47.96 trillion to a Joint Session of the Senate and House of Representatives.
The President arrived at the National Assembly building at about 12:10 pm in company of Secretary to the Government of the Federation (SGF), Senator George Akume; Chief of Staff to the President, Hon. Femi Gbajabiamila; minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and National Planning, Atiku Bagudu; Minister of Marine and Blue Economy, Gboyega Oyetola; Minister of Solid Minerals, Dele Alake; Minister of Health, Prof. Ali Pate; Minister of State for Foreign Affairs, Amb. Bianca Ojukwu, amongst others.
The budget is predicated on the parameters set out in the 2025-2027 Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP), earlier approved by the National Assembly.
The framework is based on an oil price benchmark of $75 per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to the dollar, a GDP growth rate of 4.6%, as well as a 15.75% inflation rate.
Senate President, Goodwill Akpabio and Speaker, Abbas Tajudeen, are presiding over the joint session of the National Assembly.
Security has been tightened in and around the Parliament complex with armed and plain-clothed security operatives, manning all entrances and strategic locations within the legislative building.
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