Utweets
TRENDING NOW| NEW METHOD OUT NOW, CHECK OUT HOW TO KNOW IF THE GIRL YOU MEET IS AN ASHAWO IN DISGUISE | WATCH THE VIDEO NOW TO LEARN FOR YOUR SAFETY.President Bola Ahmed Tinubu will formally present the 2025 national budget to a joint session of the National Assembly on Tuesday, 17th December 2024. This was disclosed by the Senate President, Godswill Akpabio, during Thursday’s plenary. ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
“The President has made his intention known to the National Assembly to present the 2025 budget to the joint Assembly of the National Assembly on the 17th of December, 2024,” Akpabio announced.
The presentation, scheduled for 10:30 am, will take place at the House of Representatives Chamber. Akpabio informed lawmakers that the Senate would convene in its chamber before proceeding in a procession to the venue.
Key Budget Highlights
The proposed N47.9 trillion budget for 2025 is anchored on critical fiscal parameters outlined in the Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) for 2025–2027, which President Tinubu submitted to the National Assembly last month.
Key benchmarks include:
Oil price: $75 per barrel
Daily oil production: 2.06 million barrels
Exchange rate: N1,400 to $1
GDP growth target: 6.4%
The Federal Executive Council (FEC) approved the budget proposal in November, which seeks to finance capital projects and manage recurrent expenditures.
Borrowing and Fiscal Strategy
Minister of Budget and National Planning, Senator Atiku Bagudu, noted that the approved budget size includes new borrowings of N9.2 trillion to address the projected budget deficit in 2025.
“The fiscal objectives were conservative because we want to ensure we stay the course, much as we believe the projections will be exceeded,” Bagudu said during a State House media briefing.
The proposed fiscal plan is expected to support economic growth while maintaining stability amidst global and domestic challenges.
Legislative Consideration.TRENDING NOW| NEW METHOD OUT NOW, CHECK OUT HOW TO KNOW IF THE GIRL YOU MEET IS AN ASHAWO IN DISGUISE | WATCH THE VIDEO NOW TO LEARN FOR YOUR SAFETY.
Akpabio directed the Senate Committees on Finance, National Planning, and Economic Affairs to expedite their review of the MTEF/FSP documents and submit their reports within a week. These documents will provide a foundation for legislative deliberations on the budget.…Read -T.he.Full_Article.Here.
