PARIS OLYMPIC GAMES
President Bola Tinubu has rescheduled the presentation of the N47.9 trillion 2025 budget to the National Assembly from Tuesday, December 17, 2024, to Wednesday, December 18, 2024.
Sources at the Senate confirmed that a top National Assembly management staff member verified the schedule change.
An official statement on the postponement is anticipated to be released soon.
Persecondnews recalls that the Senate President, Godswill Akpabio, announced during Thursday’s plenary session that President Tinubu would present the 2025 budget to the National Assembly on Tuesday, December 17, 2024.
He announced that the budget presentation to a joint session of both chambers will take place at the House of Representatives Chamber.
He also informed lawmakers that plenary will commence at 10:30 am, allowing senators to convene in the Red Chamber before proceeding to the House of Representatives for the presentation.
The Federal Executive Council(FEC) approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF) about a month ago, which encompasses the N47.9 trillion budget for 2025.
This plan involves N9.22 trillion in new borrowing to cover the budget deficit, assuming an oil price benchmark of $75 per barrel, a daily production target of 2.06 million barrels, and an exchange rate of N1,400 to the dollar.
President Tinubu submitted the 2025-2027 MTEF and Fiscal Strategy Paper (FSP) to the National Assembly for consideration and approval on Tuesday, November 19, 2024.
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