Stephen Ukandu, Umuahia
The Federal Government has proposed N47.9 trillion as the total expenditure in the 2025 budget.
Minister of Budget and Economic Planning, Atiku Bugudu, who disclosed this in Abuja on Thursday after the Federal Executive Council (FEC) meeting said the budget would be presented to the National Assembly by President Bola Ahmed Tinubu on Friday or Monday next week.
According to him, the proposed budget, projects a Gross Domestic Product (GDP) growth rate of 4.6%, an oil price benchmark of $75, and oil production of 2.06 million barrels per day.
He said that the approval was part of the Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper for 2025-2027, in accordance with the Fiscal Responsibility Act of 2007.
