President Bola Tinubu will present the 2025 Appropriation Bill to a joint session of the National Assembly on Tuesday, December 17, 2024, according to Senate President Godswill Akpabio.
Akpabio made the announcement during Thursday’s plenary session in the Senate, revealing that the presentation will take place at the House of Representatives Chamber.
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“The president has made his intention known to the National Assembly to present the 2025 budget to the joint session of the National Assembly on the 17th of December, 2024,” Akpabio said.
This follows Tinubu’s earlier submission of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027 to both chambers of the National Assembly on Tuesday. The MTEF/FSP outlines key economic parameters, including 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%.
In response, Akpabio directed the Senate Committee on Finance, National Planning, and Economic Affairs to consider the MTEF/FSP documents and report back within one week. These documents will form the foundation for the consideration and approval of the proposed N47.9 trillion 2025 budget.
