National Telescope national telescope newspaper
By Ekpenyong Emmanuel
President Bola Ahmed Tinubu is set to present the 2025 budget to the National Assembly on Tuesday, addressing both the Senate and the House of Representatives.
Senate President Godswill Akpabio confirmed this during the Senate’s plenary session on Thursday.
Both chambers recently approved the 2025–2027 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which serves as the foundation for the national budget. The framework outlines a total expenditure of ₦47.9 trillion for 2025, supported by a new borrowing plan of ₦9.22 trillion, sourced from both domestic and foreign lenders.
Key economic indicators in the framework include an exchange rate of ₦1,400 to a dollar and oil price benchmarks of $75, $76.2, and $75.3 per barrel for 2025, 2026, and 2027, respectively. The lawmakers also set daily oil production targets of 2.06 million, 2.10 million, and 2.35 million barrels for the same period.
The Senate approved ₦15.38 trillion for debt servicing, with pensions, gratuities, and retirees’ benefits allocated ₦1.443 trillion. The fiscal deficit is projected at ₦13.08 trillion.
Additionally, the framework estimates Gross Domestic Product (GDP) growth rates of 4.6%, 4.4%, and 5.5% for 2025, 2026, and 2027, respectively.
