December 12, (THEWILL) – President Bola Tinubu will on Tuesday, December 17, 2024, present the 2025 Appropriation Bill to a Joint Session of the National Assembly.
“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”, Senate President, Godswill Akpabio, announced at plenary on Thursday; adding that the budget presentation will be held at the House of Representatives Chamber.
This will be President Tinubu’s first substantive Appropriation Bill since assuming office on May 29, 2023.
The Federal Executive Council (FEC) had 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 N47.9 trillion 2025 budget.
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