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The federal government has outlined a proposed total expenditure of N47.9 trillion for the 2025 budget. On Thursday, following the federal executive council (FEC) meeting led by President Bola Tinubu, Atiku Bagudu, the Minister of Budget and Economic Planning, addressed reporters. He stated that the Federal Executive Council set the crude oil price at $75, with an exchange rate of N1400 to $1, and an anticipated oil production level of 2.06 million barrels per day. Bagudu mentioned that with a growth rate of 3.19% projected for the second quarter of 2024, the Federal government remains committed to addressing inflation, enhancing economic resilience, and offering increased support for economy. He emphasized that the executive will take necessary measures to guarantee that the 2025 budget is approved and signed before end of December 2024.

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