President Bola Ahmed Tinubu has arrived at the National Assembly Complex in Abuja to present the 2025 appropriation bill.
The President is expected to present N47.96 trillion budget for the 2025 fiscal year to federal lawmakers as earlier approved by the Federal Executive Council (FEC).
Tinubu arrived at the House of Representatives chambers, venue for the presentation, in the company of ministers, advisers and other top government officials with heavy security presence.
The President had on November 19, 2024, submitted the 2025–2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly which was approved ahead of today’s presentation.
The lawmakers approved the framework with an exchange rate of N1,400 to a dollar and adopted the oil prices of $75, $76.2, and $75.3 per barrel for 2025, 2026, and 2027 respectively.
The framework also has daily oil production fixed at 2.06 million, 2.10 million, and 2.35 million barrels for the three years.
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