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Tinubu To Present 2025 Budget To National Assembly In December

Published

1 week ago

Nov 11, 2024.

President Bola Tinubu is expected to present the 2025 budget to the National Assembly during the first week of December, sources indicate.

This timeline was clarified by the Senate Committee on Finance, led by Senator Sani Musa (APC, Niger East), who stressed that the decision on when to present the budget remains exclusively with the executive branch, headed by President Tinubu.

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EKO HOT BLOG reports that each concerns about the delay in receiving the budget proposal led journalists to question Senator Musa over the weekend about the expected submission date.

Responding, Senator Musa stated that the timing rests with the executive, noting, “The executive should be able to answer that question.

“They are actively working on it.” He added that he and other finance committee members had recently engaged with the Minister of Finance, the CEO of the Nigerian National Petroleum Company (NNPCL), and other top officials to review the performance of the 2024 budget.

“They are working on the 2025 budget and will submit it to us once it’s ready. This decision lies with the executive, not the National Assembly,” he reiterated.

Tinubu 2025 Budget

Traditionally, budget presentations have taken place in early October since the 9th National Assembly, following the submission of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for review. Under former President Muhammadu Buhari, MTEF and FSP were usually submitted in September to allow ample time for engagement with revenue-generating agencies.

Last year, President Tinubu presented the 2024 budget to the National Assembly on November 29, leading to its passage on December 30 and signing into law on January 1, 2024.

Following a recent session, both Senator Musa and the Minister of Finance, Wale Edun, expressed optimism that the government’s economic reforms were yielding positive results, assuring Nigerians of progress amid the ongoing adjustments.