…The proposed 2025 budget is N19.2 trillion more than the 2024 budget approved by the National Assembly (N28.7 trillion, which had a revenue target N19.5 trillion.
THUR NOV 14 2024-theGBJournal| The Federal Government has proposed to spend N47.9 trillion in 2025, a budget proposal premised on $75 per barrel and oil production estimate of 2.06 million barrels per day (bpd).
The proposed budget details was shared by the Minister of Economic Planning, Atiku Bagudu, on Thursday, shortly after the Federal Executive Council Meeting (FEC) presided over by President Bola Tinubu.
The exchange rate for the budget was also premised on N,400/US$, with an ambitious gross domestic product growth target (GDP) of 6.4%.
The proposed 2025 budget is N19.2 trillion more than the 2024 budget approved by the National Assembly (N28.7 trillion), which had a revenue target N19.5 trillion.
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