December 16, (THEWILL) – President Bola Tinubu has rescheduled the presentation of the 2025 Appropriation Bill to a Joint Session of the National Assembly, earlier fixed for Tuesday, December 17, to Wednesday, December 18.
According to Blueprint, the postponement was confirmed by a top management staff of the National Assembly.
Senate President, Godswill Akpabio, on Thursday, said that “the president has made his intention known to the National Assembly to present the 2025 budget to the joint session of the National Assembly on the 17th of December, 2024”, adding that the budget presentation will take place at the House of Representatives Chamber.
The Federal Executive Council (FEC), on November 14, approved a proposed sum of N47.9 trillion as budget for the 2025 fiscal year.
The Senate and House of Representatives had earlier approved the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025–2027 submitted to both chambers by President Tinubu for consideration.
Key parameters in the MTEF/FSP include a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%.
These figures form the basis for consideration and approval of the proposed N47.9tn 2025 budget.
This will be President Tinubu’s first substantive Appropriation Bill since assuming office on May 29, 2023.
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