The Nigerian Federal Government has proposed a ₦47.9 trillion expenditure plan for the 2025 fiscal year, featuring strategic targets to boost economic growth. Following a Federal Executive Council (FEC) meeting led by President Bola Tinubu, Budget Minister Atiku Bagudu announced the key projections in the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper for 2025–2027.
The framework, developed in line with the Fiscal Responsibility Act of 2007, anticipates a 4.6% GDP growth rate, an oil benchmark price of $75 per barrel, and oil production of 2.06 million barrels per day. The government aims to sustain fiscal progress, leveraging both oil and improved non-oil revenue sources, as outlined in its ambitious economic agenda. The framework is set for submission to the National Assembly for approval.
