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Nigeria plans $28 bln spending for 2025 budget, minister says
By Reuters
November 14, 20245:03 PM
Nigeria plans 47 trillion naira ($28.18 billion) spending for its 2025 budget, using an assumption of an oil price of $75 per barrel and target production of 2 million barrels per day, the country's budget minister said on Thursday.
The budget includes a deficit of 13.8 trillion naira, or 3.87% of estimated GDP, Atiku Bagudu told reporters after a cabinet meeting in Abuja.
The 2025 budget also includes a forecast exchange rate to the U.S. dollar at 1,400 naira, stronger than its official closing rate of 1,655 naira on Thursday.
But the 2027 aim for universal protection by early warning systems appears particularly ambitious for Chad.
Bagudu said the government's fiscal efforts were on track with key non-oil revenue streams performing better than anticipated.
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