President Bola Tinubu is set to present the 2025 Appropriation Bill to the National Assembly on Tuesday, December 17, 2024, Senate President Godswill Akpabio announced during Thursday’s plenary. The presentation will take place at the House of Representatives Chamber before a joint session of both legislative houses.
The president had earlier submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP)for 2025–2027 to the Senate and House of Representatives. These documents outline key economic projections, including:
– Oil price benchmark: $75 per barrel
– Daily oil production: 2.06 million barrels
– Exchange rate: ₦1,400 to $1
– GDP growth target: 6.4%
The proposed ₦47.9 trillion budget for 2025 is based on these parameters. The Senate Committee on Finance, National Planning, and Economic Affairs has been directed to review the MTEF/FSP and submit a report within a week.
