President Bola Ahmed Tinubu will present the 2025 Appropriation Bill to the National Assembly on Tuesday, December 17, 2024.
The Senate President, Godswill Akpabio, announced this during Thursday’s plenary session in Abuja.
Akpabio stated, “The president has made his intention known to the National Assembly to present the 2025 budget to the joint session of the National Assembly on the 17th of December, 2024.”
The budget presentation is scheduled to take place in the House of Representatives Chamber.
Ahead of the budget presentation, President Tinubu had submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025–2027 to both the Senate and the House of Representatives.
The MTEF/FSP outlines key economic parameters for the proposed ₦47.9 trillion budget, including an oil price benchmark of $75 per barrel, daily oil production of 2.06 million barrels, an exchange rate of ₦1,400 to $1, and a GDP growth target of 6.4 percent.
The Senate Committee on Finance, National Planning, and Economic Affairs has been directed to review these documents and provide a report within one week.
These figures will form the foundation for the government’s spending and economic goals in 2025. Tinubu’s administration aims to boost economic growth and address fiscal challenges as it prepares the nation’s budget for the new year.
