President Bola Tinubu is scheduled to present the 2025 budget proposal to a joint session of the National Assembly on Wednesday.
The confirmation was made by the Secretary of Research and Information at the National Assembly, Dr Ali Barde Umoru, on Monday.
According to Dr Umoru, the budget presentation will take place in a joint session of the National Assembly, and a list of accredited journalists and individuals allowed into the chamber is being compiled.
This development comes after President Tinubu forwarded the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly three weeks ago.
The Senate Committee on Finance has already approved the Medium Term Expenditure Framework (MTEF) after conducting interactive sessions with heads of Ministries, Departments, and Agencies on revenue and expenditure projections.
The proposed 2025 budget size is N47.9 trillion, with new borrowings of N9.22 trillion, according to the Minister of Budget and Economic Planning, Abubakar Bagudu.
The Medium Term Expenditure Framework (MTEF) sets out parameters, including an oil price benchmark of $75 per barrel, an oil production target of 2.06 million barrels per day, an exchange rate of N1,400 to the US dollar, and a GDP growth rate of 4.6 percent.