The federal government has proposed N47.9 trillion as the total expenditure for the 2025 budget, reflecting its commitment to economic expansion and stability.
The announcement was made by the Minister of Budget and Economic Planning, Atiku Bagudu, following the federal executive council (FEC) meeting presided over by President Bola Tinubu.
According to Bagudu, the council has approved the medium-term expenditure framework (MTEF) for 2025-2027, which includes key economic indicators.
The government has set the crude oil benchmark at $75 per barrel, with oil production expected to reach 2.06 million barrels per day (bpd).
The exchange rate has been pegged at N1,400 per dollar, and the administration is aiming for a GDP growth rate of 6.4 percent as part of its strategic plan.
This is a developing story.
