With just over two months to the end of the 2024 fiscal year, the House of Representatives has drawn attention to the violation of the Fiscal Responsibility Act by President Bola Tinubu.
In a motion by a member of the House, Clement Jimbo, the lawmakers drew attention to the fact that the 2025 Budget Estimates have not been presented before the National Assembly some two months before the end of 2024.
The House questioned the available time before the end of the year to thoroughly consider and pass the Medium-Term Expenditure Framework (MTEF), Fiscal Strategy Paper (FSP) and 2025 Budget Estimates.
The House noted that the Fiscal Responsibility Act 2007 provided for the prudent management of the nation’s resources and that Section 11(1)(b) stipulated that the Federal Government must, not later than four months before the commencement of the next financial year, cause to be prepared and laid before the National Assembly, an MTEF for the next three financial years.
The matter has been referred to the Committee on National Planning.
