The Federal Government has proposed a budget of N47.9 trillion for the 2025 fiscal year.
This was made known by Abubakar Bagudu, the Minister of Budget and Economic Planning after the Federal Executive Council (FEC) meeting on Thursday.
He said that it was of the Medium Term Expenditure Framework, 2025-2027, approved by the executive council.
The framework will be submitted to the National Assembly on Friday or Monday.
The document projects a Gross Domestic Product (GDP) growth rate of 4.6%, an exchange rate of $75 to the Naira, and oil production of 2.06 million barrels per day.
It could be recalled that President Bola Tinubu had assented to the N28.7 trillion 2024 budget, followed by a N6.2 trillion supplementary budget approved by the National Assembly.
