President Bola Tinubu may present the 2025 budget proposal approved by the Federal Executive Council (FEC) to the National Assembly today, Friday, 15th November.
Recall the federal government has proposed the sum of ₦47.9 trillion as the budget for the 2025 fiscal year.
Bagudu also disclosed that the Council approved the Medium Term Expenditure Framework (MTEF) for 2025-2027.
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He added that the framework would be transmitted to the National Assembly on Friday, November 15, or Monday, November 18.
During the briefing, the Minister expressed assurance that despite the late submission, the budget proposal would still be approved by the National Assembly before the end of the year.
He anchored the confidence on the smooth relationship between the executive and the legislators as well as the readiness of both parties to put in extra work to ensure the January to December budget cycle is maintained.
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“We are confident because we have built a respectable relationship with the National Assembly. We have narrowed the areas of misunderstanding. And because of that mutual respect, Mr President is very transparent with the National Assembly leadership. And the National Assembly appreciates that openness.
“He [President] has instructed all his teams to ensure we cooperate with the National Assembly. For instance, the team led by the Coordinating Minister of the Economy has been mandated not only to wait but also to engage the National Assembly and answer all questions at the committee hearings.
“So, I’m confident because of this combination of factors. With this cooperation, I believe we’ll see an expeditious consideration, and immediately we are aware of the approval, we will finalise the budget because the MTEF precedes the budget preparation,” Bagudu said.
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