Reps raise concern over non-readiness of 2025 budget 2 months to end of 2024

With just over two months remaining in the 2024 fiscal year, the House of Representatives has raised concerns about President Bola Tinubu’s breach of the Fiscal Responsibility Act.

In a motion put forward by Representative Clement Jimbo, lawmakers highlighted that the 2025 Budget Estimates have yet to be submitted to the National Assembly, a violation of the Act.

According to the Fiscal Responsibility Act of 2007, Section 11(1)(b) mandates that the Federal Government must present the Medium-Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, along with the budget estimates, no later than four months before the beginning of the new fiscal year.

The House expressed concerns over the limited time left in 2024 to properly review and pass the MTEF, FSP, and the 2025 Budget Estimates.

The matter has been referred to the Committee on National Planning for further review. Notably, on October 2, 2024, President Tinubu embarked on a two-week leave to the United Kingdom.