The Nigerian Senate has issued a two-week ultimatum to the executive arm to present a comprehensive progress report on the implementation of the 2024 budget, alongside projections for the 2025 fiscal year.
The directive, which came from the Chairman of the Senate Committee on Finance, Senator Sani Musa, was announced during a meeting with President Bola Tinubu’s economic team in Abuja.
The meeting at the National Assembly was led by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who headed President Bola Tinubu’s economic team to engage with members of the Senate Committee on Finance.
According to Musa, the legislature requires detailed performance data to properly assess the assumptions and projections in the proposed MTEF and Fiscal Strategy Paper.
“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
