The Federal Executive Council has given final approval to the 2025 budget to be presented by President BOLA TINUBU.

Speaking to State House correspondent shortly after the FEC meeting chaired by President TINUBU at the Presidential Villa on Monday, the Minister of Budget and Economic Planning, ATIKU BAGUDU said the total 2025 expenditure is projected at forty-seven trillion, nine hundred and sixty billion naira which is an increase of 36.8 per cent from the 2024 estimate.

BAGUDU said the 2025 Appropriation Bill is pegged on an Oil price benchmark of 75 dollar per barrel, oil production of 2.06 million barrels per day and exchange rate of N1,400 to a dollar.

He said the total projected revenue for 2025 budget stands at thirty-four trillion, eight hundred and twenty billion naira.

Meanwhile, there are indications that President BOLA TINUBU may not present the 2025 budget to the National Assembly today, December 17, as earlier scheduled.