Senate Gives Tinubu’s Team Two Weeks to Submit 2024 Budget Performance Report Before MTEF Review

The Nigerian Senate has issued a two-week ultimatum to President Bola Tinubu’s economic team, demanding a comprehensive performance report on the 2024 budget before it will begin consideration of the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper.

Chairman of the Senate Committee on Finance, Senator Sani Musa, announced the directive during a closed-door session with the federal government’s economic team, led by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the National Assembly in Abuja.

Musa stressed that the legislature would not deliberate on the 2026–2028 MTEF without first reviewing a detailed assessment of how the 2024 budget has been implemented so far.

“We cannot proceed with the MTEF without first understanding how the 2024 budget has performed. We give you till October 23 to revert and provide a documented report before we look at the 2026 MTEF,”
Musa stated.

He explained that the Senate expects data-backed evidence of progress, revenue projections, and expenditure trends to ensure fiscal discipline and transparency in the preparation of next year’s budget.

The MTEF, which outlines the federal government’s fiscal policies and spending framework for the next three years, is a key legislative requirement preceding the presentation of the annual budget.

Observers say the Senate’s insistence signals growing parliamentary scrutiny of the Tinubu administration’s fiscal performance amid mounting economic challenges.