By Abigail Philip David
President Bola Tinubu is scheduled to 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.
“The president has informed the National Assembly of his intention to present the 2025 budget to a joint session on December 17, 2024,” Akpabio said.
The budget presentation will take place in the House of Representatives Chamber.
This follows Tinubu’s submission of the Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) for 2025–2027 to both legislative chambers last Tuesday. The documents outline key economic parameters, including:
– An oil price benchmark of $75 per barrel.
– Daily oil production set at 2.06 million barrels.
– An exchange rate of ₦1,400 to $1.
– A targeted GDP growth rate of 6.4%.
The MTEF/FSP serves as the foundation for the proposed ₦47.9 trillion 2025 budget. Akpabio directed the Senate Committees on Finance, National Planning, and Economic Affairs to review the framework and submit their report within one week for further legislative action.
The presentation marks a crucial step in the nation’s fiscal planning, setting the stage for economic priorities in the upcoming year.
