JUST IN: Tinubu Presents N47.9 Trillion 2025 Budget Estimates to National Assembly
President Bola Tinubu arrived at the National Assembly complex on Wednesday afternoon to present the N47.9 trillion Appropriation Bill for the 2025 financial year to a joint session of the Senate and House of Representatives.
The President, accompanied by key government officials, arrived at the Parliament building at approximately 12:10 pm. Among those in attendance were:
- Secretary to the Government of the Federation (SGF), Senator George Akume
- Chief of Staff to the President, Hon. Femi Gbajabiamila
- Minister of Finance and Coordinating Minister of the Economy, Wale Edun
- Minister of Budget and National Planning, Atiku Bagudu
- Minister of Marine and Blue Economy, Gboyega Oyetola
- Minister of Solid Minerals, Dele Alake
- Minister of Health, Prof. Ali Pate
- Minister of State for Foreign Affairs, Amb. Bianca Ojukwu
Budget Parameters
The proposed budget follows the recently approved Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF&FSP), which set the following parameters:
- Oil benchmark price: $75 per barrel
- Domestic crude oil production: 2.06–2.10 million barrels per day
- GDP growth rate: 4.6%
- Exchange rate: ₦1,400/$1
- Inflation rate: 15.75%
Proceedings
Senate President Goodwill Akpabio and Speaker Abbas Tajudeen presided over the joint session. Akpabio delivered opening remarks, while Tajudeen will give the vote of thanks.
Tight Security Measures
Security around the National Assembly complex was heightened, with both armed and plain-clothed operatives manning entrances and strategic locations. Access was restricted to accredited staff and journalists.
Several offices and businesses within the National Assembly complex, including those of the National Identity Management Commission, Nigerian Immigration Service, MTN, commercial banks, and restaurants, remained closed for the day.
Details to follow…
