President Bola Tinubu has postponed the presentation of the 2025 budget to the National Assembly from Tuesday to Wednesday.
Minister of State for Agriculture and Food Security, Aliyu Abdullahi, disclosed this on Monday at an award ceremony organised by the Senate Press Corp in Abuja.
“The president was supposed to present the 2025 budget tomorrow but it has been postponed to Wednesday,” Mr Abdullahi said.
During the plenary last Thursday, the Senate President, Godswill Akpabio, announced that Mr Tinubu will present the 2025 budget to a joint session of the National Assembly on Tuesday.
Mr Akpabio said the budget presentation will begin at 11:00 a.m. and be held in the House of Representatives chamber.
But Mr Abdullahi, the senator for Niger North Senatorial District from 2015 to 2023, said President Tinubu postponed the presentation due to some required amendments in the budget.
Earlier today, the Federal Executive Council (FEC) approved a budget of N47.9 trillion for 2025.
The Minister of Budget and Economic Planning disclosed this at the end of the council’s meeting in Abuja.
“The 2025 framework is based on a benchmark oil price benchmark of $75 per barrel, oil production of 2.06 billion barrels per day and the exchange rate of N1,400. All these are already included in the Medium Term of which we have presented here, which have also been approved by the National Assembly,” the minister said.
“So the total projected revenue for 2025 stands at N34.82 trillion, out of which the expenditure is projected at N47.96 trillion, which is an increase of 36.8 per cent from the 2024 estimate.
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“The deficit for 2025 is projected at N13.13 trillion, representing 3.89 per cent of GP. If you recall, this administration inherited 6.1 (per cent) from the 2023 budget. But given the success achieved in 2024, we were still able to maintain the deficit.”
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