President Bola Tinubu is set to present the 2025 budget to the National Assembly’s joint session on Tuesday the 17th of December 2024.
Godswill Akpabio the current president of the Nigerian senate revealed this during the announcement at the Senate’s Thursday plenary session.
He stated, “The president has informed the National Assembly of his plan to present the 2025 budget to its joint session by Tuesday December 17, 2024.”
Akpabio also stated that the budget presentation will be held in the House of Representatives Chamber.
Akpabio however instructed the Senate Committee on Finance, National Planning, and Economic Affairs to review the MTEF/FSP documents and submit a report within a week.
Role of the MTEF/FSP
Meaning: Medium Term Expenditure Framework & Fiscal Strategy Paper
The MTEF/FSP outlines key figures, including a $75 oil price 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%.
These numbers serve as the foundation for reviewing and approving the proposed ₦47.9 trillion budget for 2025.
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