All things being equal, the Federal government has proposed N47.9 trillion total budget for 2025 to be presented to the upper and lower legislative chambers of the National Assembly soon.
Minister of Budget and Economic Planning, Atiku Bagudu stated this in Abuja on Thursday.
Speaking after the Federal Executive Council meeting on Thursday at the Presidential Villa presided by President Bola Tinubu, the Minister the amount is the total capital expenditure for the year, 2025.
The approval is part of the Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper for 2025-2027, in accordance with the Fiscal Responsibility Act of 2007.
The framework, which is expected to be submitted to the National Assembly as required by law, either on Friday or Monday, 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.
