1 month ago
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This is more than the N27 trillion proposed by the Tinubu government in 2024.
In what would be seen as a major increase from the 2024 budget, the President Bola Tinubu-led Nigerian government has proposed N47.9 trillion as the total expenditure in the 2025 budget.
This is more than the N27 trillion proposed by the Tinubu government in 2024.
The newly proposed budget was communicated by Atiku Bagudu, the minister of budget and economic planning.
The figure was approved earlier on after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu.
According to the projections, the government pegged the crude oil benchmark at $75 per barrel, while oil production is expected to be at 2.06 million barrels per day (bpd), The Cable reports.
The country also pegged exchange rate at N1400 per dollar, noting that the government is targeting a gross domestic product (GDP) growth rate of 6.4 percent.
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