President Tinubu Expected to Present 2025 Budget This Week

In a related development, Senator Sani Musa, Chairman of the Senate Committee on Finance, noted that the decision on presenting the 2025 budget lies with the executive arm of government, headed by President Tinubu.

Abuja, Nigeria – The Senate has announced that President Bola Tinubu is likely to present the 2025 budget this week.

According to Senate spokesperson, Yemi Adaramodu, the Finance Committee will meet with Ministries, Departments, and Agencies (MDAs) today to discuss their 2024 expenditure and 2025 budget projections.

The President had earlier submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025-2027 to the Senate and House of Representatives. The MTEF/FSP documents outline key parameters, including a $75 oil price benchmark, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%.

These parameters will form the basis for consideration and approval of the proposed N47.9 trillion 2025 budget. Preparations are underway in the chamber to address minor issues ahead of the President’s visit.

In a related development, Senator Sani Musa, Chairman of the Senate Committee on Finance, noted that the decision on presenting the 2025 budget lies with the executive arm of government, headed by President Tinubu.