Tinubu To Unveil ₦47.9 Trillion Budget To National Assembly Today

Tinubu Set to Present ₦47.9 Trillion 2025 Budget Amid Rescheduling Speculations

President Bola Tinubu is poised to present the 2025 budget to a joint session of the National Assembly following its final approval by the Federal Executive Council (FEC) on Monday.

The Minister of Budget and Economic Planning, Atiku Bagudu, disclosed that the proposed total expenditure for 2025 is ₦47.96 trillion, marking a 36.8% increase from the 2024 estimate.

The budget is based on an oil price benchmark of $75 per barrel, daily oil production of 2.06 million barrels, and an exchange rate of ₦1,400 per dollar.

Projected revenue for the 2025 fiscal year stands at ₦34.82 trillion, leaving a deficit of ₦13.13 trillion, equivalent to 3.89% of GDP. Bagudu noted that the Tinubu administration inherited a ₦6.1 trillion deficit from the 2023 budget.

However, there are indications that the presentation, initially scheduled for Tuesday, December 17, may be postponed. Minister of Information Mohammed Idris stated that discussions are ongoing between the Executive arm and the National Assembly leadership to finalize a suitable date for the presentation.

The budget is expected to outline Tinubu's vision for economic stability and growth amidst rising fiscal challenges.