The presentation of the N47.9 trillion 2025 budget by President Bola Tinubu, initially scheduled for Tuesday, December 17, 2024, has been postponed to Wednesday, December 18, 2024.
Sources within the Senate revealed that the shift was confirmed by a top management staff of the National Assembly. An official statement regarding the postponement is expected to be issued in the coming hours.
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Earlier, during a meeting a month ago, the Federal Executive Council (FEC) approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF), which includes the N47.9 trillion budget for 2025. The plan anticipates ₦9.22 trillion in new borrowing to finance the budget deficit, with an oil price benchmark of $75 per barrel, a daily production target of 2.06 million barrels, and an exchange rate of ₦1,400 to the dollar.
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