President Bola Tinubu will present the 2025 budget to a joint session of the National Assembly on Tuesday, December 17, 2024.
Senate President Godswill Akpabio announced the presentation during a plenary session on Thursday, December 12.
The event will take place in the House of Representatives chamber.
Earlier this month, President Bola Tinubu submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025-2027 to both the Senate and the House of Representatives.
These documents detail the government’s financial plans for the next three years, emphasizing key economic assumptions:
- A $75 per barrel oil price benchmark
- A daily oil production target of 2.06 million barrels
- An exchange rate of ₦1,400 to $1
- A projected GDP growth rate of 6.4%
The Senate Committee on Finance, National Planning, and Economic Affairs is currently reviewing the MTEF/FSP and will submit its report within a week to pave the way for the budget presentation.
The proposed budget, set at ₦47.9 trillion, represents a major fiscal initiative for the coming year.
President Tinubu’s presentation will address critical issues, including tax reform bills and economic policies aimed at driving growth and stability.
This presentation marks a pivotal moment in the legislative process for 2025, signaling the government’s commitment to implementing its financial strategies and achieving economic targets.
