KEY POINTS
- The lower chamber of the National Assembly, House of Representatives has urged President Tinubu to present the 2025 budget proposal early.
- The call was made during Wednesday’s plenary session after a motion moved by Clement Jimbo.
- The House noted that in accordance with the Fiscal Responsibility Act, the Medium Term Expenditure Framework (MTEF) should be presented before the budget is considered.
House of Representatives has urged President Bola Tinubu to forward the 2025 budget proposal to the national Assembly as soon as possible.
In the Wednesday’s plenary session, they urged the president to adhere to the Fiscal Responsibility Act that makes it mandatory for the president to submit the Medium Term Expenditure Framework (MTEF) and the budget proposal in time.
The call was made after a motion moved by Clement Jimbo, a member of the Akwa Ibom state who said that it is important to follow the law. As provided under section 11(1b) of the Fiscal Responsibility Act 2027 the MTEF is a document that is used in setting revenue, expenditure and budgetary policies for the next three years and must be submitted at least four months to the next financial year.
Issues on late submission
Jimbo raised his concern on the delay in submittal of the MTEF and the 2025 budget proposal where he pointed out that the National Assembly has the constitutional mandate of overseeing funds appropriated.
He stressed that there is need to follow the set time frame for the budgetary process in accordance with the legal requirements.
‘This is because; submission of the budget proposal early enables adequate time to review and pass the budget prior to the commencement of the financial year’ said Jimbo.
Two weeks to comply
The motion was passed through a voice vote whereby the House Speaker Tajudeen Abbas put the motion to the house. The parliament also ordered the committees on national planning, economic development, appropriation and finance to ensure compliance within two weeks.
According to Vanguard, The legislators emphasized that early action would ensure that the consideration of the measures would be comprehensive and timely to enable the implementation of the 2025 fiscal plan.
