President Tinubu Presents N47.9tn 2025 Budget Proposal To NASS

President Bola Tinubu has presented the 2025 budget to a joint National Assembly.

The budget of N47.9 was presented on Wednesday.

Tinubu was accompanied to the presentation by the Secretary to the Government of the Federation (SGF), George Akume; the Chief of Staff to the President, Femi Gbajabiamila; among other top government officials.

The presentation was expected to take place on Tuesday but that was moved to Wednesday after a meeting of the Federal Executive Council (FEC) held on Monday at the Presidential Villa in Abuja.

That same day, FEC approved the budget estimate for the year 2025.

According to the Minister of Budget and National Planning, Atiku Bagudu, the 2025 expenditure is projected at forty-seven trillion nine hundred sixty billion naira, which is an increase of 36.8 per cent from the 2024 estimate.

Bagudu said the 2025 Appropriation Bill is pegged on an oil price benchmark of $75 per barrel, oil production of 2.06 million barrels per day, and an exchange rate of N1,400 to a dollar.