Atiku Bagudu, Minister of Budget and Economic Planning, disclosed this to State House correspondent after the FEC meeting chaired by the President on Monday.

According to the Minister, the total 2025 expenditure is projected at forty-seven trillion, nine hundred and sixty billion naira, a 36.8 per cent increase from the 2024 estimate.

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

The Minister further stated that the deficit for the 2025 budget is projected at 13.13 representing 3.89 per cent of the GDP, noting that the Tinubu administration had inherited a deficit of 6.1 trillion naira from the 2023 budget.

Channels Television reported on Monday that  there are indications President Bola Tinubu may not present the 2025 budget to the National Assembly on Tuesday December 17 as earlier scheduled.

The Minister of Information, Mohammed Idris, who cleared the air on the issue while speaking to State House Correspondents said both the Executive arm and the leadership of NASS are still engaging on the day for presentation of the budget.

According to the Minister, it is the prerogative of the National Assembly to give day for presentation of Appropriation Bill.

He, however noted that there is an ongoing engagement with NASS and that it is most possible the date for the presentation of the 2025 Appropriation Bill may be Wednesday.