The Federal Executive Council has given final approval to estimated sum of forty-seven trillion, nine hundred and sixty billion naira as budget for the 2025 fiscal year in Nigeria, expected to be presented by President Bola Ahmed Tinubu on Wednesday before the joint session of National Assembly
Minister of Budget and Economic Planning, Atiku Bagudu who revealed this to State House correspondent shortly after the FEC meeting chaired by President Tinubu at the Presidential Villa on Monday,
says the total 2025 expenditure is an increase of 36.8 per cent from the 2024 estimate.
The 2025 Appropriation Bill according to him, is pegged on an Oil price benchmark of 75 dollar per barrel, oil production of 2.06 million barrels per day and exchange rate of N1,400 to a dollar.
Bagudu said the total projected revenue for 2025 budget stands at thirty-four trillion, eight hundred and twenty billion naira.
The Minister said that the deficit for the 2025 budget is projected at 13.13 representing 3.89 per cent of the GDP, noting that the Tinubu administration had inherited a deficit of 6.1 trillion naira from the 2023 budget.
Meanwhile, there are indications President Bola Tinubu may not present the 2025 budget to the National Assembly on Tuesday December 17 as earlier scheduled.
Also speaking on the shifting of the 2025 budget presentation by President Tinubu originally scheduled for Tuesday to Wednesday, the Minister of Information, Mohammed Idris says the Executive arm
and the leadership of NASS are still engaging on the day for presentation of the budget.
According to him, it is the prerogative of the National Assembly to give day for presentation of Appropriation Bill
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