President Bola Tinubu will present the 2025 Appropriation Bill to the National Assembly on Tuesday, December 17, 2024, Senate President Godswill Akpabio has announced.
Akpabio disclosed this during Thursday’s plenary session in the Senate, confirming that the budget presentation will take place in the House of Representatives Chamber before a joint session of the National Assembly.
He 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.”
This announcement follows Tinubu’s earlier submission of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to both chambers of the legislature last Tuesday.
The MTEF/FSP outlines key economic parameters, including a projected oil price benchmark of $75 per barrel, a daily oil production target of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%. These figures provide the framework for the proposed N47.9 trillion 2025 budget.
In response, Akpabio directed the Senate Committee on Finance, National Planning, and Economic Affairs to review the MTEF/FSP documents and submit a report within one week.
The 2025 budget presentation is expected to address critical economic challenges while focusing on sustainable growth and fiscal stability.
