JUST-IN: Tinubu Storms NASS For Presentation Of N47.9trn 2025 Budget Estimates

President Bola Tinubu has arrived at the National Assembly complex on Wednesday afternoon for the presentation of the N47.9 rillion Appropriation Bil for the 2025 financial year before a joint session of the Senate and House of Representatives.

Tinubu arrived the Parliament building at about 12:10pm in company of Secretary to the Government of the Federation (SGF), Senator George Akume; Chief of Staff to the President, Hon. Femi Gbajabiamila; minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and National Planning, Atiku Bagudu; Minister of Marine and Blue Economy, Gboyega Oyetola; Minister of Solid Minerals, Dele Alake; Minister of Health, Prof. Ali Pate; Minister of State for Foreign Affairs, Amb. Bianca Ojukwu, amongst others.

LEADERSHIP reports that the apex legislature recently approved the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF&FSP), setting the parameters for the proposed 2025 budget.

The approved MTEF&FSP has oil benchmark price of $75 per barrel, domestic crude oil production of 2.06, 2.10, GDP growth rate of 4.6% and exchange rate of N1400/$ as well as 15.75% inflation rate.

Senate President Goodwill Akpabio and Speaker Abbas Tajudeen are presiding over the joint session of the National Assembly and would give opening remarks as well as vote of thanks, respectively.

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Security has been tightened in and around the National Assembly complex with armed and plain-clothed security operatives, manning all entrances and strategic locations within the legislative building since morning.

Only duly accredited staff and journalists were allowed access to the National Assembly complex.

Some public and private offices such as the National Identity Management Commission, Nigerian Immigration Service, MTN; and commercial banks and restaurants inside the National Assembly building were not opened for business.

Details Later…