Toba Owojaiye reporting
Abuja, Nigeria
The Nigerian Senate has announced that President Bola Tinubu is set to present the 2025 national budget within the week, highlighting the administration’s focus on fiscal planning and timely budget processes.
Truth Live News gathered that Senate spokesperson Yemi Adaramodu (APC, Ekiti South) shared the update on Sunday, stating, “The presentation might occur this week or in earnest,” signaling progress on the nation’s financial roadmap.
Ahead of the presentation, the Senate Committee on Finance is reviewing the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP)—critical documents required for budget preparation. “The committee will meet with Ministries, Departments, and Agencies (MDAs) on Monday to evaluate their 2024 expenditure performance and projections for 2025,” Adaramodu explained.
President Tinubu had earlier submitted the MTEF/FSP for 2025–2027 to both chambers of the National Assembly. These documents outline key economic parameters such as:
Oil price benchmark: $75 per barrel
Daily oil production: 2.06 million barrels
Exchange rate: ₦1,400 to $1
Projected GDP growth: 6.4%
These metrics will underpin deliberations on the proposed ₦47.9 trillion 2025 budget. Senate President Godswill Akpabio has tasked relevant committees to review the MTEF/FSP and report back within the week.
This development underscores the administration’s commitment to aligning fiscal policies with Nigeria’s economic aspirations as it prepares for the challenges and opportunities of 2025.