The presentation of the N47.9 trillion 2025 budget by President Bola Tinubu, initially slated for Tuesday, December 17, 2024, has been rescheduled for Wednesday, December 18, 2024.
Sources within the Senate confirmed the postponement, with a senior National Assembly official providing the update. An official statement addressing the development is expected to be released shortly.
The Federal Executive Council had approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework a month ago, which forms the basis for the 2025 budget. The ₦47.9 trillion fiscal plan includes ₦9.22 trillion in new borrowing to address the budget deficit.
The framework also projects an oil price benchmark of $75 per barrel, a daily crude oil production target of 2.06 million barrels, and an exchange rate of ₦1,400 to the dollar.
