Changes in Traditional Budget Timing as Bola Tinubu Plans to Present 2025 Budget in December 2024

President Bola Tinubu is expected to present the 2025 budget to Nigeria's National Assembly in early December 2024.

This change marks a departure from the tradition established during the 9th National Assembly, where budget estimates were typically submitted in October.

The delay is attributed to the late submission of critical documents such as the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

The Senate Committee on Finance has emphasized that the timing of the budget presentation is ultimately a decision for the executive branch.

Senator Sani Musa, Chairman of the Senate Committee on Finance, stated, "The executive should be able to answer that question, because I know they are doing their work, they are working."

Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, has assured Nigerians that ongoing economic reforms are showing positive results.

He highlighted a reduction in the country's debt-to-GDP ratio as a promising sign, stating, "The positive indices are already showing and within the next 16 to 18 months, Nigerians themselves will see the gains in practical terms."