President Tinubu Set To Present Nigeria’s 2025 Budget In December

Journalists, noting the delay in receiving the crucial budget document from the Presidency this November, asked Senator Musa about the anticipated timeline. In response, he stressed that responsibility for the presentation rests with the executive, not the Senate or the National Assembly.

“The executive should answer that question,” Senator Musa said. “As the chairman of the Senate Finance Committee, I, along with committee members, have recently met with the Minister of Finance, the CEO of the Nigerian National Petroleum Company, and other top economic managers regarding the 2024 budget’s performance. They are actively working on the 2025 budget, and it will be sent to us once finalized.”

Traditionally, the budget estimates for upcoming fiscal years were presented in early October during the 9th National Assembly, under President Muhammadu Buhari, following the submission of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) in September. President Tinubu, however, presented the 2024 budget estimates to a joint session of the National Assembly on November 29, 2023, which led to its passage on December 30, 2023, and signing on January 1, 2024.

After a recent session, both Senator Musa and Finance Minister Wale Edun reassured Nigerians of progress in the government’s economic reforms. Senator Musa stated, “I believe in the Finance Minister’s assurance that our economy is on a positive path. For instance, our debt-to-GDP ratio is decreasing, with promising indicators showing. Within the next 16 to 18 months, Nigerians will see these gains firsthand.”