Abuja, Nigeria – The Federal Executive Council (FEC) on Monday, December 16, approved the 2025 budget proposal amounting to ₦47.9 trillion.
Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to journalists after the Council’s meeting at Aso Rock, Abuja.
The budget is anchored on an oil price benchmark of $75 per barrel, a projected daily production of 2.06 million barrels, and an exchange rate of ₦1,400 to the US dollar.
Bagudu explained that the framework aligns with the medium-term expenditure framework approved by the National Assembly.
“The total projected revenue for 2025 stands at ₦34.82 trillion, while expenditure is estimated at ₦47.96 trillion, marking a 36.8% increase from the 2024 budget. The projected deficit is ₦13.13 trillion, representing 3.89% of GDP,” Bagudu stated.
This was the final Council meeting of the year, during which amendments were made to the proposal as directed by President Bola Tinubu.
Get Faster News Update By Joining Our: WhatsApp Channel
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without written permission from CONVERSEER. Read our Terms Of Use.
