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President Bola Tinubu, on Tuesday, forwarded the medium-term expenditure framework (MTEF) and the fiscal strategy paper (FSP) to the national assembly for consideration and approval.
Tinubu is also seeking the approval of the senate and house of representatives for a fresh $2.2 billion loan.
The president’s request was contained in letters read on the floor of the house of representatives and senate on Tuesday.
On November 14, the federal government proposed N47.9 trillion as the total expenditure in the 2025 budget.
Atiku Bagudu, the minister of budget and economic planning, said the federal executive council (FEC) also approved MTEF for 2025-2027.
Speaking on the approval of the MTEF and fiscal strategy papers (FSP), Bagudu said the executive would put efforts in place to ensure the 2025 budget is passed and signed before December 2024.
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