President Bola Tinubu is set 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 in the Senate chamber on Thursday.
In his statement, Akpabio said, “The president has made his intention known to the National Assembly to present the 2025 budget to the joint session of the National Assembly on the 17th of December, 2024.” He further clarified that the budget presentation will be held at the House of Representatives Chamber.
Last week, President Tinubu submitted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to the Senate and House of Representatives for review. These documents outline the key economic parameters that will guide the preparation of the national budget.
The proposed framework includes a $75 per barrel oil price benchmark, daily crude oil production set at 2.06 million barrels, an exchange rate of N1,400 to $1, and a GDP growth projection of 6.4%. These assumptions underpin the proposed N47.9 trillion 2025 budget.
The Senate Committee on Finance, National Planning, and Economic Affairs has been instructed to review the MTEF/FSP and submit its report within a week.
