Federal Executive Council (FEC) don approve N47.96 trillion budget proposal for 2025, but President Bola Tinubu don order some changes after the Budget Office present am to the Council.
Sen. Abubakar Bagudu, wey be Minister of Budget and Economic Planning, talk to State House correspondents after the FEC meeting for Presidential Villa, Abuja. E explain say the budget plan base on oil price of $75 per barrel, oil production of 2.06 million barrels per day, and exchange rate of N1,400 to the dollar. Dem go soon present the proposal to the National Assembly.
The Minister talk say the budget go focus on improving macroeconomic stability, boosting security, expanding infrastructure, developing human capital, and promoting creative industries and manufacturing.
Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, talk say them go finance the N13 trillion deficit in the N48 trillion 2025 budget through borrowing.
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