The Nigerian Senate has issued a two-week deadline to President Bola Tinubu’s economic team to present a comprehensive report on the implementation of the 2024 national budget before deliberations on the 2025–2026 Medium-Term Expenditure Framework (MTEF) can begin.
Chairman of the Senate Committee on Finance, Senator Sani Musa, announced the directive during an interactive session with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who led the executive delegation to the National Assembly.
Senator Musa emphasized that the legislature cannot review the proposed MTEF and Fiscal Strategy Paper without first assessing how the current budget has performed.
“We cannot proceed with the MTEF without understanding how the 2024 budget has fared so far. You have until October 23 to submit a detailed and documented performance report,” he stated.
The Senate maintained that accurate performance data is essential to evaluate the assumptions and projections contained in the forthcoming fiscal framework, which will guide Nigeria’s economic planning for the next three years.
