President Bola Tinubu is scheduled to 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 a plenary session on Thursday. The presentation will take place in the House of Representatives Chamber.
Prior to this presentation, Tinubu submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for the years 2025-2027 to both chambers of the National Assembly. Key parameters outlined in these documents include a $75 oil price benchmark per barrel, a daily oil production target of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%. The proposed budget totals an estimated N47.9 trillion, which will be considered by the Senate Committee on Finance and Economic Affairs following the MTEF/FSP review.
