2025 Budget: N13trn deficit to be financed through borrowing – Finance minister

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Nigeria,Budget,Deficit

Nigeria's Finance Minister presents the proposed 2025 budget, highlighting a projected deficit of N13.13 trillion, which will be covered by borrowing. The budget is based on a benchmark oil price of $75 per barrel, oil production of 2.06 million barrels per day, and an exchange rate of ₦1,400 to the dollar.

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It also projects total revenue at ₦34.82 trillion, while total expenditure is estimated at ₦47.96 trillion—an increase of 36.8 per cent from the 2024 estimate. It is, therefore, uncertain if Nigeria will maintain the January-to-December budget cycle that the previous federal administration introduced five years ago. This is because the lawmakers are expected to close for the year to celebrate Christmas and New Year festivities by the end of this week.PREMIUM TIMES will bring you live updates of the budget presentation from the National Assembly. Also, follow us on Facebook, YouTube, and X.

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