Abuja, Nov. 14, 2024 -The federal government has proposed a N47.9 trillion budget for 2025.
Atiku Bagudu, the Minister of Budget and Economic Planning, disclosed this to journalists in Abuja on Thursday after the meeting of the Federal Executive Council (FEC).
He said the council also approved a Medium-Term Expenditure Framework (MTEF) for 2025-2027.
The budget is predicated on crude oil price of $75 per barrel and oil production target of 2.06 million barrels per day (bpd).
It is also based on exchange rate at N1,400 per dollar and targets GDP growth rate of 6.4%.
The budget proposal is to be submitted to the National Assembly by Friday or Monday. (GBN)
