Senate issues ultimatum to Executive on 2024 budget report before MTEF consideration

The Senate has issued a two-week ultimatum to the Executive, demanding a comprehensive progress report on the 2024 budget before it will consider the Medium-Term Expenditure Framework (MTEF).

The declaration was made by the Chairman of the Senate Committee on Finance, Senator Sani Musa, during a meeting with President Bola Tinubu’s economic team, led by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

Senator Musa emphasized that the legislature requires detailed performance data to properly assess the assumptions in the proposed MTEF and Fiscal Strategy Paper.

“We cannot proceed with the MTEF without first understanding the performance of the 2024 budget to date. We are giving you until October 23 to submit a documented report before we will consider the MTEF”, he said.