President Tinubu has proposed a staggering N47 trillion for the 2025 budget.
NaijaOnPoint Nigeria reports that the Federal Government led by President Bola Tinubu has proposed N47.9 trillion as the total expenditure in the 2025 budget in what would be seen as a major increase from the 2024 budget.
This Nigeria news platform understands that the N47 trillion Proposal for the 2025 Budget is more than the N27 trillion proposed by the Tinubu government in 2024.
The Minister of Budget and Economic Planning, Atiku Bagudu, disclosed the N47 trillion Proposal for the 2025 Budget while addressing journalists on Thursday, November 14, 2024, after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu.
The figure was approved earlier on after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu.
According to the projections, the Federal 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 Nigerian government also pegged the exchange rate at N1400 per dollar, noting that the government is targeting a gross Domestic Product (GDP) growth rate of 6.4 percent.