President Tinubu Set to Present N47 Trillion 2025 Budget This Week – Senate

The Nigerian Senate has announced that President Bola Tinubu is expected to present the 2025 national budget later this week. Senate spokesperson Yemi Adaramodu (APC, Ekiti South) hinted on Sunday that the presentation could take place “this week or in earnest,” emphasizing the administration’s dedication to fiscal responsibility and timely budgetary processes.

Adaramodu further stated that the Senate Committee on Finance is currently reviewing the Medium-Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP), both essential for the budget presentation. “The Senate Committee on Finance is already engaged in reviewing the MTEF and will meet with the Ministries, Departments, and Agencies (MDAs) tomorrow (Monday),” he said.

MDAs are expected to present their 2024 expenditure plans and discuss their projections for the 2025 budget.

Last Tuesday, President Tinubu submitted the MTEF/FSP for 2025-2027 to both the Senate and the House of Representatives.

Following this, Senate President Godswill Akpabio instructed the Senate Committees on Finance, National Planning, and Economic Affairs to review the MTEF/FSP documents and present their findings within a week.

The MTEF/FSP outlines critical economic projections, including a $75 per barrel oil price benchmark, daily oil production of 2.06 million barrels, an exchange rate of N1,400 to $1, and a projected GDP growth rate of 6.4%. These projections will form the basis for discussions on the proposed N47.9 trillion budget for 2025.