The Federal Executive Council (FEC) adopted a ₦47.96 trillion budget plan for 2025, up 36.8% from the 2024 forecast.
Key Projections:
- Revenue: ₦34.82 trillion
- Expenditure: ₦47.96 trillion
- Deficit: ₦13.13 trillion, representing 3.89% of GDP
- Oil Price Benchmark: $75 per barrel
- Oil Production: 2.06 million barrels per day
- Exchange Rate: ₦1,400 to the US dollar
These numbers are consistent with the National Assembly’s earlier approval of the Medium-Term Expenditure Framework.
The Federal Government’s financial plan is reflected in the 2025 budget proposal, which aligns with the National Development Plan (2021–2025) and the Renewed Hope Agenda.
The budget presentation to the National Assembly has been delayed until Wednesday, December 18, 2024, until the legislative body confirms.
