President Bola Tinubu will formally present the 2025 budget to the Nigerian National Assembly during a joint session scheduled for Tuesday, December 17. Senate President Godswill Akpabio confirmed the announcement at the plenary session held on Thursday.
The presentation is set to take place in the House of Representatives. This follows the president’s submission of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to the Senate and the House of Representatives last Tuesday.
The Senate Committee on Finance, National Planning, and Economic Affairs has been tasked with reviewing the MTEF/FSP documents within a week. These documents outline the economic parameters shaping the proposed N47.9 trillion 2025 budget.
Key highlights from the MTEF/FSP include:
- Oil Benchmark Price: $75 per barrel
- Daily Oil Production: 2.06 million barrels
- GDP Growth Target: 6.4%
- Exchange Rate: N1,400 to $1
The 2025 budget will be built on these projections to advance Nigeria’s economic recovery and development goals.
