The Federal Government has disclosed that it has proposed N47.9 trillion as the total expenditure in the 2025 budget.
The Minister of Budget and Economic Planning, Atiku Bagudu, made this known on Thursday.
According to Bagudu, the decision was arrived at the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu.
Bagudu said that the council also approved the medium-term expenditure framework (MTEF) for 2025-2027.
The Minister submitted that the government at the centre pegged the crude oil benchmark at $75 per barrel and oil production at 2.06 million barrels per day (bpd).
According to him, the exchange rate was pegged at N1,400 per dollar, noting that the government is targeting a gross domestic product (GDP) growth rate of 6.4 percent.
This is coming as state governments have been presenting their Appropriation Bill for next year to State House of Assemblies.
With this development by the Federal Government, it was gathered that President Tinubu may approach the National Assembly for the presentation of the budget proposal before the runs out.
