FG Proposes N47.9trn Budget for 2025

The Federal Government has proposed a total expenditure of N47.9 trillion for the 2025 budget, according to Atiku Bagudu, the Minister of Budget and Economic Planning. Bagudu made the announcement on Thursday after the Federal Executive Council (FEC) meeting, which was presided over by President Bola Tinubu.

This expenditure plan is part of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for the 2025-2027 period, in line with the Fiscal Responsibility Act of 2007. The MTEF and FSP are set to be submitted to the National Assembly by Friday or Monday.

Key projections under the MTEF include:

• GDP Growth Rate: 4.6%
• Exchange Rate: $75 to the Naira
• Oil Production: 2.06 million barrels per day

Further details will follow.