President Bola Tinubu is today, Thursday, presiding over a meeting of the Federal Executive Council FEC, that is expected to unveil plans for the 2025 budget. The meeting, according to Cabinet office sources, will review the implementation and performance of the 2024 budget and set the agenda for the 2025 budget.
Recall that the President had last week shelved the meeting to honour the memory of Taoreed Lagbaja, late Chief of Army Staff, who died on Tuesday, after a brief illness.
The President was also away on Monday in Saudi Arabia to attend the Arab- Islamic conference.
The meeting is expected to unveil the budget framework and the basic parameters that will guide the 2025 budget which will then go to the National Assembly for approval ahead of the preparation and presentation of the budget for passage.
Nigeria has in recent times adopted the January to December budgetary cycle and it is expected that all the preparation and passage of the 2025 budget will have to be completed by the end of December 2024 to enable a new budget cycle to begin from January 1st, 2025.
Details later…
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