The Senate President, Godswill Akpabio has announced that the 2025 Appropriation bill will be presented to the National Assembly next week Tuesday .
The National Assembly received the 2025-2027 Medium Term Framework, deliberated and passed it.
The 2025 budget will be presented to a joint session of the Senate and House of Representatives by President Bola Ahmed Tinubu.
The joint session scheduled to hold at the chambers of the House of Representatives will be president by Senate President ,God will Akpabio and supported by the Speaker of the House of Representatives, Tajudeen Abbas.
The approved 2025 – 2027 MTEF proposed that the federal government will spend N47. 9 trillion to run the economy in 2025.
This represents an increase of 36.64% .
The Senate approved the expenditure framework with a total spending of N47.9 trillion for 2025 and a new borrowing plan of N9.22 trillion for domestic and foreign borrowings.
It had also directed that the National Assembly, through its Committees on Finance, National Planning and other relevant committees, carry out in-depth investigation into Public Private Partnership (PPP) and Joint Venture Agreements (JVAs) “considered inimical to the revenue growth of the country” by the NNPCL, NLNG, and Immigration Services with a view to reconciling remittances to the Federation Account.
It mandated its Committees on Finance, Petroleum Upstream, and Petroleum Downstream to investigate reports from the Revenue Mobilisation, Allocation, and Fiscal Responsibility Commission alleging that the NNPCL withheld N12.08 trillion, as claimed subsidies for petrol.
The resolutions of the Senate followed its consideration of the 2025-2027 MTEF/FSP report presented by Chairman of the Senate Joint Committee on Finance, and National Planning and Economic Affairs, Sani Musa, during plenary and co-chaired by Yahaya Abudullahi.
The MTEF/FSP is a projection of a three-year spending plan of the Federal Government, while the budget is predicated on the approved framework