President Bola Ahmed Tinubu – GCFR is presenting the 2025 budget to a joint session of the National Assembly today.
The Federal Executive Council approved the ₦47 trillion budget proposal on Monday. This budget is Tinubu’s second full budget since taking office in May 2023.
The proposed budget is based on an oil price benchmark of $75 per barrel, oil production of 2.06 million barrels per day, and an exchange rate of ₦1,400 to the dollar.
It projects total revenue at ₦34.82 trillion, while total expenditure is estimated at ₦47.96 trillion, marking a 36.8% increase from the 2024 estimate. The deficit in the proposed 2025 budget is projected at ₦13.13 trillion, representing 3.89% of GDP.
Security has been heightened around the National Assembly Complex in Abuja for the budget presentation.
Armed policemen are stationed at key entry points, and only those with proper accreditation are allowed access.
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