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The federal government of Nigeria has proposed N47.9 trillion as the total expenditure in the 2025 budget.
Minister of Budget and Economic Planning, Atiku Bagudu revealed this to journalists after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu.
According to him, the executive will put efforts in place to ensure the 2025 budget is passed and signed before the end of December 2024.
Bagudu also noted that FEC approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Papers (FSP).
He said the FEC pegged the price of crude oil at a $75 exchange rate of N1,400 to 1$ dollar and oil production of 2.06 million barrels per day.
The minister said with the growth rate of 3.19% which comes in the second quarter of 2024, the federal government will continue to tackle inflation, strengthen economic resilience and provide more support for the economy.
-Atiku Bagudu-Minister of Budget and Economic Planning
Source: Swifteradio.com