The Nigerian Senate has confirmed that the Federal Government will submit the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) following President Bola Tinubu’s return from his overseas trip. These documents are essential for shaping the nation’s budget and are typically presented to the National Assembly before the annual budget presentation by the President.
President Tinubu, currently on a two-week vacation in the UK and France, has delayed the submission, raising concerns among lawmakers. Members of the House of Representatives highlighted the absence of the 2025 budget estimates, urging compliance with the Fiscal Responsibility Act, which mandates timely submission of these key documents.
Senate spokesperson Yemi Adaramodu expressed optimism that the process would begin promptly once the President returns, with the 2025 budget expected to be presented in early November.
News Editor