FG proposes N47.9trn as 2025 budget

Our reporter/ 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 made the disclosure while briefing reporters after the federal executive council (FEC) meeting presided over by President Bola Tinubu on Thursday.

According to him, the council approved the medium-term expenditure framework (MTEF) for 2025-2027.

The government, he said, pegged the crude oil benchmark at $75 per barrel and oil production at 2.06 million barrels per day (bpd).

The minister further stated that the exchange rate was pegged at N1,400 per dollar, noting that the government is targeting a gross domestic product (GDP) growth rate of 6.4 percent.