President Bola Tinubu is set to present the 2025 Appropriation Bill to a joint session of the National Assembly on Tuesday, December 17, 2024.
This announcement was made by Senate President Godswill Akpabio during Thursday’s plenary session.
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 presentation will take place in the House of Representatives Chamber.
Last week, Tinubu submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) for 2025–2027 to both the Senate and the House of Representatives. Akpabio subsequently directed the Senate Committee on Finance, National Planning, and Economic Affairs to review the document and provide a report within a week.
The MTEF/FSP outlines key economic assumptions, including a $75 oil price benchmark per barrel, a daily oil production target of 2.06 million barrels, an exchange rate of N1,400 to $1, and a projected GDP growth rate of 6.4%. These parameters underpin the proposed N47.9 trillion 2025 budget, which will be considered and debated by lawmakers.
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