Senate President Godswill Akpabio has announced that President Bola Tinubu will present the 2025 Appropriation Bill to the National Assembly on Tuesday. Akpabio made the announcement during Thursday’s plenary session on the floor of the Senate.
He said, “The president has made his intention known to the National Assembly to present the 2025m budget to the joint session of the National Assembly on the 17th of December, 2024.”
Akpabio announced that the budget presentation will be held at the House of Representatives Chamber.
President Tinubu had previously submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to both the Senate and the House of Representatives last Tuesday.
Following this, Akpabio instructed the Senate Committee on Finance, National Planning, and Economic Affairs to review the MTEF/FSP documents and provide a report within one week.
Key parameters in the MTEF/FSP include an oil price benchmark of $75 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%.
