The Senate has directed the executive to submit a detailed 2024 budget performance report within two weeks before considering the 2025–2026 Medium-Term Expenditure Framework.
The Nigerian Senate has given the executive two weeks to present a comprehensive progress report on the implementation of the 2024 budget before it will consider the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper for 2025–2026. Chairman of the Senate Committee on Finance, Senator Sani Musa, issued the directive during a meeting with President Bola Tinubu’s economic team at the National Assembly.
The delegation, led by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, appeared before the committee to discuss fiscal projections. Musa said the legislature requires a detailed analysis of the 2024 budget performance to validate the assumptions in the proposed MTEF. “We cannot proceed with the MTEF without first understanding how the 2024 budget has performed so far. We give you till October 23 to revert and provide a documented report before we look at the 2026 MTEF,” he said.