Tinubu Set to Present N47tn 2025 Budget to National Assembly Maybe Today

On Thursday, the Federal Government approved the Medium-Term Expenditure Framework (MTEF) for 2025–2027 and the Fiscal Strategy Paper. The MTEF revealed that the proposed 2025 budget size is N47.9 trillion, with new borrowings amounting to N9.22 trillion. This was disclosed by the Minister of Budget and Economic Planning, Abubakar Bagudu, following this week’s Federal Executive Council meeting at the Aso Rock Villa, Abuja.

Bagudu explained that the Federal Executive Council approved a memorandum presented by the Director-General of the Budget Office, Mr. Tanimu Yakubu, outlining the MTEF and Fiscal Strategy Paper for the 2025–2027 period.

The announcement follows several weeks of delay as President Bola Tinubu prepares to present the 2025 Appropriation Bill to the National Assembly, his second since taking office in May 2023.

The MTEF serves as a crucial document for the government, outlining fiscal strategies for the next three years. It sets macroeconomic targets and assumptions that guide national budgeting, including projections for key economic indicators such as oil prices, exchange rates, inflation, and growth rates.

For the 2025-2027 period, the MTEF sets parameters including an oil price benchmark of $75 per barrel, an oil production target of 2.06 million barrels per day, an exchange rate of N1,400 to the US dollar, and a GDP growth rate of 4.6%. The projected aggregate expenditure for 2025 is N47.9 trillion, with planned borrowings of N13.8 trillion, accounting for 3.87% of GDP.