President Bola Tinubu is expected to present the 2025 budget to the National Assembly this week, according to the Senate.
The announcement comes as the Senate Committee on Finance intensifies its review of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for 2025–2027.
Senate spokesperson, Yemi Adaramodu (APC, Ekiti South), disclosed on Sunday that the Finance Committee would meet with Ministries, Departments, and Agencies (MDAs) on Monday to evaluate their 2024 expenditures and projections for 2025.
“The President would likely present the 2025 budget this week or in earnest,” Adaramodu stated.
“The Senate Committee on Finance is already working on the Medium-Term Expenditure Framework and would be meeting with the MDAs tomorrow.”
The MTEF/FSP, submitted by Tinubu last Tuesday, outlines key economic parameters, including a $75 oil price benchmark, daily oil production of 2.06 million barrels, and an exchange rate of ₦1,400 to $1.
The framework targets a GDP growth rate of 6.4%, forming the basis for the proposed ₦47.9 trillion budget.
Senate President Godswill Akpabio has tasked the committees on Finance, National Planning, and Economic Affairs to submit their report on the MTEF/FSP within a week.
Meanwhile, preparations are underway in the National Assembly to resolve minor logistical issues ahead of the President’s anticipated visit. Tinubu’s budget presentation is expected to set the stage for critical discussions on Nigeria’s fiscal priorities for 2025.
