The federal government has put forward a proposal of N47.9 trillion for the total expenditure in the 2025 budget.
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This was revealed by the Minister of Budget and Economic Planning, Atiku Bagudu, while addressing journalists on Thursday after the Federal Executive Council (FEC) meeting, presided over by President Bola Tinubu.
Bagudu explained that the approval is part of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper for 2025-2027, in line with the Fiscal Responsibility Act of 2007.
He added, “The framework, which we plan to submit to the National Assembly either on Friday or Monday as mandated by law, forecasts a Gross Domestic Product (GDP) growth rate of 4.6%, an exchange rate of $75 to the Naira, and oil production of 2.06 million barrels per day.”
