President Bola May Present 2025 Budget This Week – Senate

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 on Monday.

He said, “The President would likely present the 2025 budget this week or in earnest.

“The Senate Committee on Finance is already working on the Medium Term Expenditure Framework and would be meeting with the MDAs tomorrow (Monday).

“The MDAs are expected to defend their 2024 expenditure and also project their 2025 budget.”

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.

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.

Our correspondent also observed that there is work ongoing in the chamber to fix some minor issues ahead of the President’s visit.

Credit: Punch