Indications have emerged that President Bola Tinubu will present the 2025 Appropriation Bill to the National Assembly on Tuesday, December 17, 2024.
This announcement was made by Senate President Godswill Akpabio during Thursday’s plenary session.
Akpabio confirmed that the budget presentation will take place at the House of Representatives Chamber. He also noted that Tinubu had previously submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to both chambers of the National Assembly last Tuesday.
Akpabio therefore directed the Senate Committees on Finance, National Planning, and Economic Affairs to review the MTEF/FSP documents and submit their report within one week.
Key parameters in the MTEF/FSP include $75 oil price benchmark per barrel, a daily oil production target of 2.06 million barrels, an exchange rate of N1,400 to $1 and a GDP growth rate target of 6.4%
These figures will guide the consideration and approval of the proposed N47.9 trillion 2025 budget.entrusted with their collective hopes and aspirations for a just and equitable society through legislation.