Nigeria’s federal government has unveiled its proposed budget for 2025, setting a total expenditure target of N47.9 trillion.
The announcement was made on Thursday by the Minister of Budget and Economic Planning, Atiku Bagudu, following a Federal Executive Council (FEC) meeting chaired by President Bola Tinubu.
The proposed budget aligns with the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper for 2025-2027, as mandated by the Fiscal Responsibility Act of 2007. The framework, which is expected to be presented to the National Assembly in the coming days, projects a 4.6% Gross Domestic Product (GDP) growth rate, an exchange rate of N75 to the US dollar, and daily oil production of 2.06 million barrels.
More details on the budget will be forthcoming.
