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    ALMOND 94.3 FM Ibadan

News

2025 BUDGET: TINUBU SUBMITS MTEF TO N’ASSEMBLY NEXT WEEK – SENATE SPOKESMAN

todayOctober 30, 2024 10

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President Bola Tinubu will submit the Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly next week.

The Senate, through its Finance Committee, is set to meet with key stakeholders in the finance sector, in preparation for the document’s submission.

The MTEF, a legally required framework, establishes the groundwork for the national budget, guiding economic projections and policy direction.

Speaking on the anticipated submission, Senate spokesperson, Yemi Adaramodu (APC, Ekiti South), confirmed that the MTEF document would be sent next week.

He added that once work on the MTEF was completed, the President would follow with the budget presentation.

Adaramodu said, “The MTEF document will be forwarded to the National Assembly next week for review, in anticipation of the President’s budget presentation.

“We are committed to doing our best with the budget, as we have always done.”

He assured Nigerians of the Senate’s commitment to a thorough review of the 2025 budget promptly upon its presentation.

Previously, the Senate indicated that the Federal Government would submit the MTEF and Fiscal Strategy Paper shortly after the President returned from his international engagements.

The House of Representatives also said it would have enough time to properly review the MTEF and the 2025 Appropriation Bill when both bills are transmitted by the President.

The legislative body subsequently urged the Federal Government to immediately transmit the budget estimates and MTEF to enable it to scrutinise both documents in compliance with the January-December budget cycle.

In a telephone interview, Deputy spokesperson of the House, Philip Agbese, said though the House wanted the Presidency to transmit the documents as soon as possible, what was important was the adequate review Nigerians expected from the parliament.

He said, “The reasoning of the parliament and that of Mr Speaker, Tajudeen Abbas, is that it is not how quick and fast but the meticulous work done on the 2025 budget proposal.

“We are proud of the performances of the Ministers of Finance and Budget and National Planning. We are confident as a parliament that the MTEF will be in within a record time and Mr President will subsequently transmit the budget to the National Assembly.”

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Written by: Almond News

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