President Bola Tinubu is set to present the 2025 Appropriation Bill to the National Assembly on Tuesday, December 17, 2024, as disclosed by Senate President Godswill Akpabio during Thursday's plenary session.
Akpabio informed the Senate that the president had expressed his intention to present the bill to a joint session of the National Assembly in the House of Representatives Chamber.
The budget presentation follows the submission of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 by President Tinubu last Tuesday. The Senate President also directed the Senate Committee on Finance, National Planning, and Economic Affairs to review the MTEF/FSP documents and report within a week.
Key parameters in the MTEF/FSP include a $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 projected GDP growth rate of 6.4%. These figures will form the basis for the consideration and approval of the proposed N47.9 trillion 2025 budget.
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