Baring unforeseen circumstances, President Bola Ahmed Tinubu will formally present the 2025 budget to both chambers of the National Assembly on Tuesday.
The President of the Senate, Godswill Akpabio, announced this on Thursday during the Senate plenary session.
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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