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FG Proposes N47.9 Trillion Budget for 2025
The federal government has proposed a total expenditure of N47.9 trillion for the 2025 budget. This was announced by Atiku Bagudu, the Minister of Budget and Economic Planning, after the Federal Executive Council (FEC) meeting led by President Bola Tinubu.
The proposed budget is based on certain assumptions, including a crude oil price of $75, an exchange rate of N1400 to $1, and an anticipated oil production level of 2.06 million barrels per day .
According to Bagudu, the federal government is committed to addressing inflation, enhancing economic resilience, and offering increased support for the economy. The government is also projecting a growth rate of 3.19% for the second quarter of 2024.
The executive has pledged to take necessary measures to ensure that the 2025 budget is approved and signed before the end of December 2024.