In further of yearly ritual, President Bola Tinubu is set to present the 2025 budget to the National Assembly on December 17, 2024.
This announcement was made by Senate President Godswill Akpabio during a plenary session on Thursday.
The 2025 budget, totaling N47.9 trillion, is expected to be the largest in Nigeria’s history.
The presentation will take place at the House of Representatives Chamber.
ALSO READ: How Nigerian Lawmakers Padded 2024 Budget With Over N53billion Vague Projects
Lawmakers recently reviewed and submitted the government’s medium-term expenditure framework (MTEF), which underpins the budget figures.
Key assumptions in the plan include a $75 oil price per barrel, a daily oil production target of 2.06 million barrels, and an exchange rate of N1,400 to $1.
The document also projects a GDP growth rate of 6.4%. The Senate Committee on Finance is tasked with reviewing the MTEF/FSP and providing a report within one week.
Budget making in Nigeria of recent has been characterized by a lot of subterfuge and shenanigan employed by politicians to steal public fund.
Experts observe that, through what the legislators referred as budget padding, vague project items are infused into the budget to enable both legislators and the executive to commit the heist of public fund.
