The Federal Government has proposed a budget of N47.9 trillion for the 2025 fiscal year.
This was disclosed by the Minister of Budget and Economic Planning, Atiku Bagudu, after a Federal Executive Council meeting led by President Bola Tinubu on Thursday.
Bagudu also revealed that the council approved the Medium-Term Expenditure Framework for the 2025-2027 period.
This budget proposal marks an important step in shaping the country’s fiscal policy and economic outlook for the coming years.
According to the Minister, the Nigerian government has set the crude oil benchmark at $75 per barrel for the 2025 fiscal year, with an oil production target of 2.06 million barrels per day.
The proposed budget also projects an exchange rate of N1,400 per dollar and aims for a GDP growth rate of 6.4%.
These assumptions are central to the government’s economic planning for the year, reflecting key indicators that will shape revenue generation and economic performance.
