President Bola Tinubu will be presenting the 2025 budget to the joint session of the National Assembly today.
Recall that the Federal Executive Council had, on Monday, approved the N47.96tn budget estimate for the 2025 fiscal year.
Speaking to State House correspondent shortly after the FEC meeting chaired by President Tinubu at the Presidential Villa on Monday, the Minister of Budget and Economic Planning, Atiku Bagudu said the total 2025 expenditure is projected at forty-seven trillion, nine hundred and sixty billion naira which is an increase of 36.8 per cent from the 2024 estimate.
He said the 2025 Appropriation Bill is pegged on an Oil price benchmark of 75 dollar per barrel, oil production of 2.06 million barrels per day and exchange rate of N1,400 to a dollar.
Bagudu said the total projected revenue for 2025 budget stands at thirty-four trillion, eight hundred and twenty billion naira.
Meanwhile, security agents comprising operatives of the Department of State Services, the Nigeria Police Force, Nigerian Security and Civil Defence Corps, Sergeant-At-Arms and the Federal Road Safety Corps are restricting access to the complex, assuring that only those with legitimate business related to the proposed budget presented are allowed in through the gates.