By Ayomide Otitoju
The National Assembly is contemplating rescheduling President Bola Tinubu’s budget presentation to Wednesday, according to Minister of Information and National Orientation, Mohammed Idris. Idris confirmed the update on Monday during a briefing with State House Correspondents following the Federal Executive Council (FEC) meeting.
Idris stated that only the National Assembly has the authority to determine the date for the President’s presentation of the budget, noting that discussions are ongoing with lawmakers. Originally, President Tinubu was scheduled to present the 2025 Appropriation Bill on Tuesday.
If rescheduled, this would mark President Tinubu’s second full budget presentation since assuming office in May 2023.
On December 3, the Senate approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP), which outlines a total expenditure of ₦47.9 trillion. The framework also includes a new borrowing plan of ₦9.22 trillion, comprising both domestic and foreign borrowings.
The MTEF, a key projection for the federal government’s three-year spending plan, is foundational to the national budget. It was approved with an exchange rate of ₦1,400 to the dollar and oil price projections of $75, $76.2, and $75.3 per barrel for 2025, 2026, and 2027, respectively.
