The N47.9trn 2025 budget presentation to the joint session of the National Assembly by President Bola Tinubu, initially slated for Tuesday, December 17, 2024 has been shifted to Wednesday, December 18, 2024.
Sources within the Senate revealed that the postponement was confirmed by a top management staff of the National Assembly.
An official statement regarding the shift is expected to be issued in the coming hours.
The Senate President, Godswill Akpabio, had, during the announcement at the Thursday plenary, announced that President Tinubu will present the 2025 budget on Tuesday.
“The president has made his intention known to the National Assembly to present the 2025 budget to the joint Assembly of the National Assembly on the 17th of December, 2024,” he stated.
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Meanwhile, the Federal Executive Council (FEC), during a meeting a month ago, approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF), which includes the N47.9 trillion budget for 2025.
The plan anticipates ₦9.22 trillion in new borrowing to finance the budget deficit, with an oil price benchmark of $75 per barrel, a daily production target of 2.06 million barrels, and an exchange rate of ₦1,400 to the dollar.
More details to come…
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