The joint presentation of the N47.9 trillion 2025 budget by President Bola Tinubu, initially slated for Tuesday, December 17, 2024, has been shifted to Wednesday, December 18, 2024.
Vanguard quotes sources within the Senate, as saying that the postponement was confirmed by a top management staff of the National Assembly. An official statement regarding the postponement is expected to be issued in the coming hours, the newspaper further revealed.
Frontline News Online recalls that the Senate and the House of Representatives separately passed the 2025–2027 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) last week.
The National Assembly passes the MTEF And FSP before the annual budget is presented. The framework approved by the Senate details a total spending of ₦47.9 trillion for 2025 and includes a new borrowing plan of ₦9.22 trillion, comprising both domestic and foreign borrowings.
Further checks revealed that the Red Chamber approved the framework with an exchange rate of ₦1,400 to a dollar and adopted oil price benchmarks of $75, $76.2, and $75.3 per barrel for the years 2025, 2026, and 2027, respectively.
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