Mohamed Garba
President Bola Tinubu presented the 2025 budget estimates of N47.96 trillion to a joint session of the Senate and House of Representatives at the National Assembly Complex on Wednesday, December 18. The presentation was made in a convivial atmosphere, with lawmakers from both chambers displaying solidarity and chanting songs of support.
Tinubu’s arrival at the chamber was met with enthusiasm, dressed in a traditional cream-colored agbada and green cap. The Senate President, Godswill Akpabio, and the Speaker of the House, Tajudeen Abbas, were among those in attendance.
The 2025 budget proposal, totaling N47.9 trillion, was previously announced by the Minister of Budget and National Planning, Senator Abubakar Atiku Bagudu, on November 14. The proposal includes a $75 oil price benchmark per barrel, daily oil production of 2.06 million barrels per day, and an exchange rate of N1,400 to $1.
“The 2025 budget that I present today at the joint session of the National Assembly is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boosts human capital development, increase the volume of trade and investments, bolsters oil and gas production, get our manufacturing sector humming again, and ultimately increase the competitiveness of our economy,” Tinubu said.
The budget presentation marks a significant step in the country’s budgeting process, and lawmakers are expected to review and debate the proposal in the coming weeks.
