President Tinubu Set to Unveil 2025 Budget Dec. 17 as National Assembly Prepares

President Bola Tinubu is scheduled to present the 2025 Appropriation Bill to a joint session of the National Assembly on Tuesday, December 17. The announcement was made by Senate President Godswill Akpabio during Thursday's plenary session. 

 

The presentation will take place in the chamber of the House of Representatives and is expected to outline the federal government’s proposed spending plan for the coming year. The budget, pegged at N47.9 trillion, reflects a significant fiscal strategy aimed at addressing national priorities. 

 

Ahead of the budget presentation, the federal government submitted its Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) for 2025–2027 on November 19. These documents, which provide the foundational assumptions for budget planning, were approved by the Senate on December 3. 

 

Key parameters outlined in the MTEF/FSP include an oil price benchmark of $75 per barrel, daily oil production set at 2.06 million barrels, and an exchange rate of N1,400 to the dollar. Additionally, the framework projects a 6.4% GDP growth rate and includes a borrowing plan of N9.22 trillion, combining domestic and foreign debt sources. 

 

The upcoming budget presentation is anticipated to set the tone for Nigeria’s fiscal direction in 2025, with a focus on economic growth, sustainability, and addressing pressing developmental challenges.