The federal government has proposed a total expenditure of N47.9 trillion for the 2025 budget.
Atiku Bagudu, the Minister of Budget and Economic Planning, revealed this to journalists on Thursday following the Federal Executive Council (FEC) meeting chaired by President Bola Tinubu.
This approval is part of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper for 2025-2027, in line with the Fiscal Responsibility Act of 2007.
The framework, which is set to be submitted to the National Assembly by either Friday or Monday, forecasts a 4.6% GDP growth rate, an exchange rate of $75 to the Naira, and an oil production target of 2.06 million barrels per day.
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