President Tinubu To Present N47.9 Trillion 2025 Budget To National Assembly Today
By: Abdulwasiu Akintunde
President Bola Tinubu is set to present the 2025 budget proposal to a joint session of the National Assembly today.
OPEN TELEVISION NAIJA (OTN) News gathered that this was confirmed earlier in the week by Secretary of Research and Information at the National Assembly, Dr. Ali Barde Umoru,
Dr. Umoru stated that preparations for the presentation are underway, including compiling a list of accredited journalists and officials who will be allowed into the chamber during the session.
The budget presentation follows President Tinubu’s submission of the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper to the National Assembly three weeks ago.
The Senate Committee on Finance has since approved the MTEF after engaging with heads of Ministries, Departments, and Agencies on projected revenue and expenditures.
According to the Minister of Budget and Economic Planning, Abubakar Bagudu, the proposed 2025 budget is valued at N47.9 trillion, with plans to borrow N9.22 trillion to finance the deficit.
In conclusion, the MTEF outlines key economic assumptions, including an oil price benchmark of $75 per barrel, a daily oil production target of 2.06 million barrels, an exchange rate of N1,400 to the US dollar, and a projected GDP growth rate of 4.6 percent.
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