President Bola Tinubu has postponed the presentation of the N47.9 trillion 2025 budget to the National Assembly. Initially scheduled for Tuesday, December 17, 2024, the presentation will now take place tomorrow, Wednesday, December 18, 2024.
The postponement was confirmed by a top management staff of the National Assembly, with sources within the Senate revealing that an official statement will be issued soon.
The 2025 budget is part of Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF), which was approved by the Federal Executive Council (FEC) last month. Key highlights of the budget include:
-
Budget Size: N47.9 trillion
-
New Borrowing: ₦9.22 trillion to finance the budget deficit
-
Oil Price Benchmark: $75 per barrel
-
Daily Production Target: 2.06 million barrels
-
Exchange Rate: ₦1,400 to the dollar
