The Senate has stated that President Bola Tinubu will likely president the 2025 budget this week.
According to the Senate spokesperson, Yemi Adaramodu – APC, Ekiti South, the Finance Committee will meet with the Ministries, Departments, and Agencies today.
Tinubu submitted the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025–2027 to both the Senate and the House of Representatives last Tuesday.
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Akpabio directed the Senate Committee on Finance, National Planning, and Economic Affairs to consider the MTEF/FSP documents and report within one week.
Key parameters in the MTEF/FSP include a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a targeted GDP growth rate of 6.4%.
These figures form the basis for consideration and approval of the proposed N47.9tn 2025 budget.