The Federal Executive Council has approved the 2025 budget proposals, projecting revenue of ₦34.82 trillion and expenditure of ₦47.96 trillion — a 36.8% rise from 2024 estimates.
The Minister of Budget and Economic Planning, Atiku Bagudu, revealed this after the Council meeting at the Aso Rock Villa, Abuja.
The proposal is based on a $75 per barrel oil benchmark, production of 2.06 million barrels per day, and an exchange rate of ₦1,400 to the dollar.
While the budget cycle of January to December faces uncertainty,
Despite uncertainty over the timing of President Bola Tinubu’s presentation of the 2025 appropriation bill and concerns over the December-to-January budget cycle, the Minister of Budget and Economic Planning expressed confidence that the cycle would remain on track, citing constitutional provisions designed to address such delays.
Follow us on:
