Nigeria’s Fiscal Strategy and Economic Outlook for 2025

The Federal Executive Council (FEC) has recently approved the Medium-Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP), both of which are set to be submitted to the National Assembly. This marks a significant step in the country’s budgetary and economic planning. Alongside these documents, several important bills are already under consideration at the National Assembly, including economic stabilization measures and tax reforms. These initiatives are expected to contribute to strong economic growth projections for 2025.

As part of the meeting, the FEC also endorsed the submission of these documents to the National Assembly, in compliance with the Fiscal Responsibility Act of 2007. The approved framework outlines a target GDP growth rate of 4.6% for the coming years. Additionally, the exchange rate is projected to be 75 naira to the US dollar, with oil production forecasted to reach 2.06 million barrels per day.

This comprehensive fiscal plan aims to strengthen Nigeria’s economic position, focusing on sustainable growth and fiscal stability. With these initiatives in place, the government is optimistic about achieving robust economic progress in 2025.