The 2025 Budget will be presented by President Bola Ahmed Tinubu before a joint session of the National Assembly today, December 18, 2024.
The management of the National Assembly has strengthened security surrounding the premises in anticipation of this event.
Originally slated for December 17, the budget presentation was postponed to accommodate last-minute changes to the paper. The Federal Executive Council has approved an estimated ₦47.96 trillion for the fiscal year 2025.
The National Assembly has implemented a number of measures to guarantee a safe atmosphere for the President’s address:
- Enhanced Security Presence: More staff from several security agencies have been sent in to strengthen safety surrounding the property.
- Restricted Access: It has been suggested that banks, food sellers, and other business owners and service providers within the complex stay closed during the presentation. Entry is only allowed to essential staff who are properly accredited.
- Limitations for Visitors: In order to reduce traffic and any security threats, non-essential employees and guests have been told to leave until after the budget presentation.
The combined session is anticipated to be presided over by Speaker of the House of Representatives Abbas Tajudeen and Senate President Godswill Akpabio. President Tinubu will be presenting his second budget after assuming office on May 29, 2023.
The Medium Term Expenditure Framework and Fiscal Strategy Paper, which serves as the basis for the 2025 budget, calls for an oil production of 2.06 million barrels per day, an exchange rate of ₦1,400 to the US dollar, and a benchmark oil price of $75 per barrel.
