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Trending News: Bello Turji’s fighters undergoing weapons training in Sokoto – ReportINEC Declares APC’s Oyebanji Winner Of Ekiti Gov ElectionIran Closes Hormuz Again Over Israel Renewed Strikes On LebanonSix dead, many stranded after multi-vehicle crash on Lagos-Ibadan expresswaySwitzerland says US, Iran peace talks postponedNDC disowns candidates’ list circulating on social mediaM-East war: US lifts Iranian ports’ blockade as deal comes into forceOkpebholo Threatens To Sign Death Warrants For CriminalsBanditry, farmer-herder clashes worsening poverty in North — StudyCritics Of Iran Deal Are ‘Fools’, Says TrumpNursing student found dead in Anambra apartment, landlord arrestedTwo Nigerians detained in Libya over social media postsUAE Announces Social Media Ban For Under-15sOil prices sink further as Trump signs deal to reopen HormuzGunfire Erupts Near Niger’s Capital AirportSoldier kills’ driver transporting diesel on Ondo highwayTAKE A LOOK: What’s inside the US-Iran peace dealOkpebholo Accuses Some Edo Residents Of Collaborating With CriminalsMan sentenced to death for raping minor in CalabarNBC Loses As Appeal Court Upholds Ban On Broadcast FinesJUST IN: London court acquits Diezani of bribery chargesPolice arrest two over killing of 33-year-old woman in AnambraFACT-CHECK: How AI-generated image was used to depict false story of arrested kidnappers in Abia Nine killed, 11 injured in attack on Kaduna communityUK-based Nigerian who tried to rape drunk woman jailed five years, to be deportedPolice: How newborn was sold for N2.5m in Lagos hospitalCourt sentences man to death for kidnapping, killing his neighbour in KogiThree police officers killed as IED explodes on Zamfara roadFUOYE suspends deputy dean, SUG president over alleged extortion of studentGunmen kill three security operatives in NIPSS attackAppeal court faults judge, stays judgment ordering ADC, Accord deregistrationObi: I’ll negotiate with bandits willing to embrace peace150 terrorists convicted in 48 hours, says AGFCourt sentences woman to death for transporting ammunition to bandit kingpin in ZamfaraMilitary rescues wife of late ex-defence spokesman abducted by banditsCourt Orders Deregistration Of ADC, Accord, Three Others Over Constitutional BreachFG Orders Marketers To Increase Cooking Gas ImportsPolice arrest two for producing fake alcoholic drinks in AnambraNigeria’s inflation rose to 15.93% in May – NBSADC announces Amaechi as Atiku’s running matePolice arrest four suspects over separate cases of murder, child abuse in AnambraOil price drops to $82/barrel after US, Israel, Iran agree to end warUK to ban social media access for children under 16APO SIX @ 21: A Painful Reminder of the Cost of ImpunityArmy, Other Security Agencies Arrest 46 Suspected Illegal Immigrants In OgunPeace Deal: US To Release $12bn In Frozen Assets To IranStrait of Hormuz to be reopened as US, Iran reach peace dealSERAP sues NNPC over alleged N5.9bn rebranding expenditureGeneral Rabe was not diabetic, son disputes govt’s claimGunmen kidnap Ondo traditional ruler11 burial guests feared dead in Benue boat accidentBandits kill three, burn houses in Niger — PoliceNigerian gov promises houses, grants for terrorists who repentBandits kill 20 in Kebbi communityAnambra based pastor arrested for allegedly converting 75 women as wivesKemi Badenoch: Nigeria is an oil producing country but never had electricityMan hangs self in OgunTrump: US-Iran deal will be signed Sunday, Strait of Hormuz to reopen immediatelyInsurgents sets schools on fire in BornoBandits kill 17 farmers, injure others in Zamfara communityTwo Kogi varsity students arrested for killing 300-level studentIran’s Late Supreme Leader Ali Khamenei To Be Buried July 9Ex-Nigerian Army spokesperson dies in custody of terrorists, but govt claims ‘it’s a natural death’No reason to keep Nnamdi Kanu in detention, says ObiSecurity agencies arrest six wanted ‘criminals involved in killing of police officers’ in 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Years ImprisonmentJune 12: FG Declares Friday Public HolidayTrump Cancels Scheduled Bombings Against IranSenate asks security agencies to track, arrest bandits flaunting activities on TikTokTrump vows to take Iran oil terminals, launch new strikes tonightUS to track health data, increase surveillance under $2bn deal with NigeriaN210tn probe: Senate disowns ex-NNPC boss Kyari arrest warrantReps pass state police billAgbedi emerges Reps minority leaderGunmen kill two vigilantes in Plateau communityXenophobia: 268 Nigerian returnees arrive in Lagos from South Africa10 killed, seven injured in Zamfara IED explosionPolice detain four Pakistani nationals over ‘suspicious presence’ in Ekiti communityAircraft crew detained after landing on Delta road— KeyamoNobody is doing NDC a favour’ — Dickson defends party after attacks by Obi supportersSome residents bring herders for kidnapping in Edo – CommissionerUS military says carrying out ‘self-defense strikes’ against IranTwo WAEC students, motorcyclist die in Rivers road accidentSenate Orders Kyari’s Arrest Over Alleged Missing ₦210tnAlleged ₦2b Fraud: How Sirika Allegedly Used Ethiopian Airlines As Fake Nigeria Air — Prosecution Witness
Mon. Jun 22nd, 2026

FG okays 2025 budget, sets $75 per barrel oil benchmark

The Federal Executive Council on Monday approved the 2025 Budget Proposal.

The Minister of Budget and Economic Planning, Atiku Bagudu, revealed this to State House Correspondents after the Council met for the last time in 2024 at the Aso Rock Villa, Abuja.

He said, “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 an oil price benchmark of $75 per barrel. Oil production of 2.06 million barrels per day; exchange rate of one N1,400 (to the dollar).

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

“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.”

Details later…

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