FEC proposes N47.9 trillion budget for 2025 fiscal year

The Federal Executive Council (FEC) has proposed the sum of N47.9 trillion budget for the 2025 fiscal year for submission to the National Assembly on Monday.

He also said that the government would continue to support high employment generation sectors, improve the business environment and effective implementation of youth development and social investment programmes.

Bagudu also disclosed that FEC reviewed the 2024 Budget implementation and acknowledged that the review revealed promising in revenue collection and expenditure management.

“Despite the lack of prorated target, the overall trajectory shows that fiscal efforts are on track with key non-oil streams performing better than anticipated.

Similarly, the minister said FEC approved the medium-term expenditure framework and the fiscal strategy paper to be submitted to the NASS.

“This is in addition to the bills that are already at the National Assembly, the Economic Stabilisation Bill and Tax Reforms Bill, which we believe we will have a very strong growth in 2025,” he said.