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JUST IN: FEC Approves 2025 Budget Proposal Eith N47.96trn Expenditure Plan

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The Federal Executive Council (FEC) has approved a N47.96 trillion expenditure for the 2025 budget, marking a 36.8% increase from the 2024 estimate.

The decision was made during the Council’s final meeting of 2024, held on Monday in the Council Chambers of the Statesl House, Abuja.

Speaking to State House Correspondents, the Minister of Budget and Economic Planning, Atiku Bagudu, disclosed that the 2025 framework is based on key economic projections, including an oil price benchmark of $75 per barrel, daily oil production of 2.06 million barrels, and an exchange rate of N1,400 to the dollar.

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The proposed revenue for 2025 stands at N34.82 trillion, leaving a projected deficit of N13.13 trillion, which is 3.89% of the GDP.

READ ALSO: I’m Sorry For Treating You Badly – Oshiomhole Apologises To APC Defector

Bagudu explained that the budget, presented by the Director-General of the Budget Office, Tanimu Yakubu, incorporates amendments directed by President Bola Tinubu.

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“Today, the Federal Executive Council approved the budget proposals for 2025 with amendments which Mr president directed following a presentation to the Federal Executive Council led by the Director General of the Budget Office, Tanimu Yakubu.

“The 2025 framework is based on oil price benchmark of $75 per barrel. Oil production of 2.06 million barrels per day. Exchange rate of one 1400 naira (to the dollar).

“All these are already included in the medium term expenditure framework which we have presented here, which have also been approved by the National Assembly.

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READ ALSO: South African Soldier Convicted Of Attempted Murder, Rape, Deliberately Infecting Girlfriend With HIV [VIDEO]

“So the total projected revenue for 2025 stands at N34.82tn out of which the expenditure is projected at N47.96tn which is an increase of 36.8% from the 2024 estimate. The deficit for 2025 is projected at N13.13tn representing 3.89% of GDP”, Bagudu said.

Meanwhile, the presentation of the 2025 Appropriation Bill to the National Assembly by President Tinubu might not hold on tomorrow (Tuesday).

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Reacting to a question after the Council meeting the Minister of Information and National Orientation, Mohammed Idris, disclosed that discussions were ongoing that might lead to the postponement of the budget presentation to Wednesday.

The Minister, who noted that the discussions were yet to be concluded, however said the possibility is there that the budget will be presented to the National Assembly on Wednesday instead of the Tuesday earlier announced by the President of the Senate, Senator Godswill Akpabio.

Akpabio, had, during plenary, last week announced that President Tinubu will present the 2025 budget on Tuesday.

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Details shortly…

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NiMet Predicts 3-day Sunshine, Haziness Nationwide

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The Nigerian Meteorological Agency has predicted sunshine and haziness from Sunday to Tuesday across the country.

‎NiMet’s weather outlook, released on Saturday in Abuja, envisaged sunny skies in a hazy atmosphere over parts of Katsina, Yobe, Kano, and Jigawa states in the northern region on Sunday.

‎The agency anticipated the remaining parts of the region to be sunny during the morning hours.

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”Later in the afternoon or evening hours, isolated thunderstorms are expected over parts of southern Taraba.

‎” For the central region, sunny skies with patches of clouds are expected over the area during the morning hours.

‎”In the afternoon or evening hours, isolated thunderstorms with moderate rains are expected over parts of Benue and Kogi,” it said.

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READ ALSO:NiMet Predicts Three-day Rain, Thunderstorms From Monday

‎According to NiMet, a cloudy atmosphere is anticipated over the southern region with prospects of morning thunderstorms with light rains over parts of Ebonyi, Ogun, Ondo, Imo, Abia, Lagos, Rivers, Bayelsa, Cross River, and Akwa Ibom.

‎The agency predicted thunderstorms with moderate rains over most parts of the region later in the day.

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‎According to NiMet, sunny skies are expected over the northern region during the morning hours on Monday.

‎It anticipated isolated thunderstorms over parts of southern Kaduna and southern Taraba later in the day.

”For the central region, sunny skies with patches of clouds are expected over the region during the morning hours.

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‎” In the afternoon or evening hours, isolated thunderstorms with moderate rains are expected over parts of southern Benue, the Federal Capital Territory, and Nasarawa.

READ ALSO:Heed NiMet’s Flood Early Warning, NOA Urges Nigerians

”For the southern region, cloudy atmosphere is anticipated over the southern region with prospects of morning thunderstorms with light rains over parts of Bayelsa, Rivers, Cross River, and Akwa Ibom,” it said.

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‎The agency forecast thunderstorms with moderate rains over parts of Enugu, Ogun, Oyo, Abia, Imo, Rivers, Bayelsa, Akwa Ibom, and Cross River later in the day.

‎NiMet envisaged sunny skies over the northern region during the forecast period on Tuesday, and sunny skies with patches of clouds over the central region during the forecast period.

‎It predicted a cloudy atmosphere over the southern region with prospects of morning thunderstorms with light rains over parts of Ogun, Lagos, Cross River, and Akwa Ibom.

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‎The agency anticipated thunderstorms with moderate rains over parts of Ogun, Akwa Ibom, Rivers, Bayelsa, Delta, Cross River, and Lagos States later in the day.

READ ALSO:NDLEA Arrests 26, Recovers 41,410.53 KG Drugs In Edo

‎The agency urged the public to drive with caution in the rain and farmers to refrain from applying fertiliser and pesticides right before the rains to avoid leaching nutrients.

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‎”Ensure that loose objects are fastened to avoid collision. Disconnect electrical appliances from electrical sockets. Stay away from tall trees to avoid impact from falling branches and broken trees.

‎”Airline operators are advised to get airport-specific weather reports (flight documentation) from NiMet
‎for effective planning in their operations.

‎”Residents are advised to stay informed through weather updates from NiMet. Visit our website ‎www.nimet.gov.ng” it said.

NAN

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ALGON Orders Edo Council Officials To Wear Tinubu’s signature Caps

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The Edo State chairman of the Association of Local Governments of Nigeria (ALGON), Hon. Sunny Ekpetika Ekpeson, has ordered all 18 local government chairmen in the state to ensure their officials wear caps branded with President Bola Tinubu’s insignia during official meetings.

A statement released by his media aide, Agbukor Apeakhuye, said the instruction applies to supervisory councillors, senior special assistants (SSAs), and special assistants (SAs).

According to the statement, the move was meant to “visibly demonstrate grassroots solidarity with President Tinubu’s administration and political vision in Edo State.”

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READ ALSO:Tinubu Grants Presidential Pardon To Herbert Macaulay, 174 Others

Apeakhuye said the decision followed Governor Monday Okpehbolo’s recent call for political alignment across the state.

He noted that displaying political symbols at the local level is a way to strengthen support for President Tinubu ahead of the 2027 general election.

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“The pledged 3.5 million votes for President Tinubu from Edo State must not remain a mere aspiration,” Ekpeson said.

READ ALSO:Tinubu Under Fire Over Presidential Pardon For Drug Offenders

We must begin to build that momentum from the grassroots now, and this includes symbolic acts that reflect our political commitment.”

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He urged all local government leaders to take the directive seriously, saying a unified show of support would send a strong political message.

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Ebonyi Auto Crash Kills Six, Injures 14

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Six persons have been confirmed dead, while 14 others sustained varying degrees of injuries in a ghastly motor accident that occurred along the Nkalagu axis of the Abakaliki–Enugu Expressway on Saturday morning.

The tragic incident happened near the Nkalagu Flyover Bridge at about 9:30 am, throwing the busy highway into confusion as emergency responders raced to the scene.

Confirming the accident, the State Sector Commander of the Federal Road Safety Corps, FRSC, Mr. Henry Igwe, revealed that 22 people were involved in the crash. He attributed the accident to dangerous overtaking involving a commercial Toyota bus and a truck.

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READ ALSO:12 Burnt To Death In Benin-Auchi Road Auto Crash

Igwe explained that some of the injured victims were immediately evacuated to a hospital in Enugu by FRSC personnel and Red Cross officials, while others were taken to the General Hospital, Ezzamgbo, Ebonyi State, for urgent medical treatment.

The FRSC official also urged motorists to exercise caution and avoid dangerous driving, especially during peak travel periods, to prevent further loss of lives on the highways.

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