2 weeks ago
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… as Senate says decision lies with Executive
By Tunde Opalana
Indications have emerged that presentation of the 2025 budget draft by President Bola Tinubu may be delayed till December.
The Daily Times gathered that the president may present the draft to a joint session of the National Assembly in the first week of December.
Investigation revealed that the Budget Office of the Federation have since August prepared the template for personnel cost of all MDAs but the Medium Term Expenditure Framework (MTEF) and Financial strategy Paper (FSP) are yet to be presented to the Finance Ministry for approval by the Federal Executive Council and consequent onward transit to the National Assembly.
But investigation further revealed that the cost circular pertaining to their overhead and capital is yet to be released by the Budget Office.
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So, as these templates are not yet out ten days into November 2024, there are indications that the rough estimate of government spending for 2025 might not be presented to the Presidency before the end of November.
This is as the Senate, through its Committee on Finance , declared that the decision on presentation of the 2025 budget strictly lies with the executive arm of government headed by President Tinubu .
It would be recalled that as against tradition laid down during the 9th National Assembly in collaboration with the then President , Muhammadu Buhari , presentation of budget estimates for coming fiscal years , was always done in the first week of October of the preceding year , after required templates for that effect like Medium Term Expenditure Framework ( MTEF) and Fiscal Strategy Paper ( FSP), must have been presented for thorough scrutiny and dissection .
MTEF and FSP under Buhari , were always received in the month of September for required engagements with relevant revenue generating agencies by committees on Finance at both Chambers of the National Assembly .
Worried by the seeming delay in getting the vital document from the Presidency in the month of November, journalists on Friday last week asked the Chairman , Senate Committee on Finance , Senator Mohammed Sani Musa ( APC Niger East ) on when the 2025 budget would be presented.
Senator Musa in response to the question said the decision on that lies with the executive and not the Senate and by extension, not the National Assembly.
” The executive should be able to answer that question, because I know they are doing their work, they are working.
” As chairman of the Senate Committee on Finance along with members of the committee , have just interacted with the minister of finance, the Chief Executive Officer of Nigerian National Petroleum Company ( NNPCL) and other top managers of the Nation’s economy on performance of the 2024 budget .
” They are definitely working on the 2025 budget and will forward it to us when work on it , must have been completed . Decision on that lies with the executive and not us at the National Assembly “, he said
Recall that President Tinubu presented estimates for 2024 budget to joint session of the National Assembly on Wednesday, November 29, 2023 which delayed passage of it by both the Senate and the House of Representatives to Saturday, 30th December, 2023 and signing into law on January 1st , 2024 by President Tinubu .
However, both the Chairman , Senate Committee on Finance and the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun , assured Nigerians after their interactive session on Friday , ray of light is already showing at the end of tunnel of economic reforms of government .
Senator Sani Musa said : ” I believe in the assurance given by the Finance Minister that our economy is taking good shape through results from the reforms .
” For example, our debt to GDP ratio is decreasing and not Increasing. The positive indices are already showing and within the next 16 to 18 months, Nigerians themselves will see the gains in practical terms “.
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