{"id":58146,"date":"2024-12-17T11:27:48","date_gmt":"2024-12-17T11:27:48","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=58146"},"modified":"2024-12-17T11:27:48","modified_gmt":"2024-12-17T11:27:48","slug":"fg-approves-2025-budget-proposal-reschedules-presentation-to-wednesday","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/12\/17\/fg-approves-2025-budget-proposal-reschedules-presentation-to-wednesday\/","title":{"rendered":"FG Approves 2025 Budget Proposal, Reschedules Presentation to Wednesday"},"content":{"rendered":"<p><em><strong>By Gabriella Ogbu<\/strong><\/em><\/p>\n<p>The Federal Government has approved the 2025 budget proposal, following the Senate&#8217;s endorsement of the Medium-Term Expenditure Framework (MTEF), for 2025-2027.<br \/>\nPresident Bola Tinubu will present the N47.96 trillion budget to a joint session of the National Assembly on Wednesday, December 18, 2024, after a one-day delay for final adjustments.<br \/>\nMinister of State for Agriculture, Sabi Abdullahi, confirmed the postponement, citing the need for refinements.<br \/>\nThe budget, based on the MTEF, includes N9.22 trillion in new borrowings.<br \/>\nMinister of Budget and Economic Planning, Abubakar Bagudu, stated that the 2025 budget represents a 36.8% increase from 2024.<br \/>\nKey assumptions include an oil price benchmark of $75 per barrel, production of 2.06 million barrels per day, and an exchange rate of N1,400 per dollar.<br \/>\nRevenue is projected at N34.82 trillion, with a deficit of N13.13 trillion (3.89% of GDP).<br \/>\nBagudu assured that the government remains committed to the January-December budget cycle and highlighted strong 2024 revenue inflows, driven by non-oil revenue and petroleum deregulation.<br \/>\nHe confirmed full funding for debt service, personnel, pensions, and significant capital expenditure utilization.<br \/>\nDespite challenges, Bagudu expressed confidence in achieving 2025 fiscal targets, emphasizing Nigeria\u2019s steady economic trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriella Ogbu The Federal Government has approved the 2025 budget proposal, following the Senate&#8217;s endorsement of the Medium-Term Expenditure Framework (MTEF), for 2025-2027. President Bola Tinubu will present the N47.96 trillion budget to a joint session of the National Assembly on Wednesday, December 18, 2024, after a one-day delay for final adjustments. Minister of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":58147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-58146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=58146"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58146\/revisions"}],"predecessor-version":[{"id":58148,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58146\/revisions\/58148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/58147"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=58146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=58146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=58146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}