NIGERIA: Tinubu to Present ₦47.9tn 2025 Budget to National Assembly

By Onoja Baba, Nigeria

Nigerian President Bola Ahmed Tinubu will present the 2025 Appropriation Bill to a joint session of the National Assembly on Tuesday, December 17, 2024.

This announcement was made by Senate President Godswill Akpabio during Thursday’s plenary session at the Senate Chamber in Abuja.

Akpabio disclosed that the presentation would take place in the House of Representatives Chamber, marking a significant step in Nigeria’s fiscal planning for the upcoming year. He emphasized the importance of the event as part of the legislative process to approve the 2025 national budget.

The proposed ₦47.9 trillion budget is built on key projections contained in the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025–2027, which the President submitted to the National Assembly last week.

The framework includes assumptions on oil price, daily oil production, exchange rates, and GDP growth, forming the basis for the fiscal year’s spending plans.

Akpabio also tasked the Senate Committee on Finance, National Planning, and Economic Affairs to expedite their review of the framework and submit their findings promptly to ensure a smooth budget approval process.

As the nation anticipates the President’s presentation, debates around the economic targets and funding strategies are expected to dominate discussions within the National Assembly.