The House of Representatives has raised concerns over President Bola Tinubu’s delay in submitting the 2025 budget proposal, noting that the delay violates the Fiscal Responsibility Act.
With just over two months remaining in the 2024 fiscal year, lawmakers are urging the President to act swiftly.
In a motion presented by House member Clement Jimbo, the House highlighted that the 2025 Budget Estimates have yet to be presented to the National Assembly, leaving limited time to properly review and pass key financial documents, including the Medium-Term Expenditure Framework (MTEF), Fiscal Strategy Paper (FSP), and the 2025 Budget.
The lawmakers emphasized that the Fiscal Responsibility Act of 2007 mandates prudent management of the country’s resources.
Specifically, Section 11(1)(b) requires the Federal Government to submit an MTEF to the National Assembly no later than four months before the start of the next fiscal year, covering the next three financial years.
The issue has been referred to the Committee on National Planning for further consideration.
