-Deborah Akinyosoye
The federal government has proposed N47.9 trillion as the total expenditure in the 2025 budget.
Atiku Bagudu, the minister of budget and economic planning, told journalists on Thursday after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu.
The approval is part of the Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper for 2025-2027, in accordance with the Fiscal Responsibility Act of 2007.
The framework, which is expected to be submitted to the National Assembly as required by law, either on Friday or Monday, projects a Gross Domestic Product (GDP) growth rate of 4.6%, an exchange rate of $75 to the Naira, and oil production of 2.06 million barrels per day.