₦airaland Forum

The Federal Executive Council (FEC) has approved a 2025 budget expenditure of N47.96 trillion, reflecting a 36.8% rise compared to the 2024 budget, News360 Nigeria reports.

This decision was reached during the Council’s final meeting of 2024, held on Monday at the State House, Abuja.

Addressing journalists after the meeting, Minister of Budget and Economic Planning Atiku Bagudu highlighted the key economic parameters underpinning the 2025 budget framework. These include an oil price benchmark of $75 per barrel, a daily oil production estimate of 2.06 million barrels, and an exchange rate projection of N1,400 to the dollar.

The proposed revenue for the year is set at N34.82 trillion, leaving a budget deficit of N13.13 trillion, equivalent to 3.89% of the Gross Domestic Product (GDP). Bagudu noted that the budget incorporates amendments recommended by President Bola Ahmed Tinubu, as presented by the Director-General of the Budget Office, Tanimu Yakubu.

“Today, the Federal Executive Council approved the budget proposals for 2025 with amendments which Mr president directed following a presentation to the Federal Executive Council led by the Director General of the Budget Office, Tanimu Yakubu.

“The 2025 framework is based on oil price benchmark of $75 per barrel. Oil production of 2.06 million barrels per day. Exchange rate of one 1400 naira (to the dollar).

“All these are already included in the medium term expenditure framework which we have presented here, which have also been approved by the National Assembly.

“So the total projected revenue for 2025 stands at N34.82tn out of which the expenditure is projected at N47.96tn which is an increase of 36.8% from the 2024 estimate. The deficit for 2025 is projected at N13.13tn representing 3.89% of GDP”, Bagudu said.

Meanwhile, the presentation of the 2025 Appropriation Bill to the National Assembly by President Tinubu might not hold on tomorrow (Tuesday).

Reacting to a question after the Council meeting the Minister of Information and National Orientation, Mohammed Idris, disclosed that discussions were ongoing that might lead to the postponement of the budget presentation to Wednesday.

The Minister, who noted that the discussions were yet to be concluded, however said the possibility is there that the budget will be presented to the National Assembly on Wednesday instead of the Tuesday earlier announced by the President of the Senate, Senator Godswill Akpabio.

Akpabio, had, during plenary, last week announced that President Tinubu will present the 2025 budget on Tuesday

docdes:
On what grounds are they projecting an exchange rate of ₦1,400?

Richtaiwo:
On the grounds that the pandora criminal will never be president of Nigeria.

Richtaiwo:
On the grounds that the pandora criminal will never be president of Nigeria.

Richtaiwo:
E pain am. E really pain am. Peter Obi will never be president of Nigeria. Cry more.

Ibehchizzy:
an average batist is brain dead
See the answer you gave to an honest question
Una sabi do slave in the midst of suffering no be small
It is well

Richtaiwo:
Not everyone is rebellious.

But according to stark illiterates, anyone not rebellious against the govt is a slave.

By that their understanding, I will rather be a slave than always screaming and barking like a starving rabbid dog.

Ibehchizzy:
nigga all you do is give unintelligent answers and talk about Peter obi and igbos ….
You’re literally a retarded piece of shit with an IQ of a 2year old
You don’t even know how to defend your master policies on here without sounding so stupid and retarded

Richtaiwo:
Illiterates don't deserve anything logical. All they know is to bark, curse and swear any govt policies. Where do I have have time dragging any matter with typical Illiterates who think one criminal is their god sent saviour? Go discuss your brand of intelligence with your ilk.

Ibehchizzy:
a foolish man doesn’t know he is foolish
I’ll leave your low IQ child brain to ponder on that

Richtaiwo:
Exactly. That is exactly what is playing out here. Go search your fellow "high iq adult brain" to discuss with and duck off my mention.

Ibehchizzy:
as usual balderdash, from an unintelligent brain dead individual suffering from severe psychosis

Richtaiwo:
Lol.

He came back after leaving with a claim of owning high iq with adult brain. So what are you still doing in the mention of low iq of child brain?

Abi na the pain? Choi, see big big oyibo.

9jvirgin:
The destruction and end of Nigeria will be worst than Syria and Afghanistan. APC will bring Nigeria to an expected and total doom. By 2027, the people will be eating stones and sand. The indescribable pains that will come on Nigerians will be unexplainable.

Richtaiwo:
On the grounds that the pandora criminal will never be president of Nigeria.

9jvirgin:
You will see paper and call it money, you will see sand and call it food. Just watch and wait. It’s close.

Ibehchizzy:
an average batist is brain dead
See the answer you gave to an honest question
Una sabi do slave in the midst of suffering no be small
It is well

9jvirgin:
The destruction and end of Nigeria will be worst than Syria and Afghanistan. APC will bring Nigeria to an expected and total doom. By 2027, the people will be eating stones and sand. The indescribable pains that will come on Nigerians will be unexplainable.

Ibehchizzy:
nigga all you do is give unintelligent answers and talk about Peter obi and igbos ….
You’re literally a retarded piece of shit with an IQ of a 2year old
You don’t even know how to defend your master policies on here without sounding so stupid and retarded

Ibehchizzy:
a foolish man doesn’t know he is foolish
I’ll leave your low IQ child brain to ponder on that