President Bola Tinubu is set to present Nigeria's 2025 budget to the National Assembly in December 2024. The executive branch, led by Tinubu, aims to align fiscal strategies with recent economic reforms, focusing on debt reduction and sustainable growth. Key improvements in economic indicators are anticipated within 18 months.
According to Leadership Newspaper, President Bola Tinubu is expected to present Nigeria's 2025 budget to the National Assembly in early December, despite several preparatory steps still being underway. Traditionally, budget proposals are submitted to lawmakers in early October, following the delivery of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). However, this year’s schedule indicates a shift, prompting some legislative members to inquire about the timing.
Senator Mohammed Sani Musa, Chair of the Senate Finance Committee, confirmed that the executive branch has full discretion over when to submit the budget. He stated that while the Finance Committee has conducted meetings with Finance Minister Wale Edun and Nigerian National Petroleum Company Limited (NNPCL) officials, the budget timeline remains an executive decision. "They are working on the 2025 budget, and we’ll receive it once it is completed,” Musa noted, emphasizing that the National Assembly is ready to review it promptly.
During these discussions, Finance Minister Edun expressed optimism about recent economic reforms, citing a positive shift in Nigeria’s debt-to-GDP ratio. He assured that the government’s efforts are beginning to show positive indicators and projected that Nigerians should see tangible economic benefits from these reforms within 18 months.
As anticipation builds for the December budget presentation, the 2025 fiscal plan is expected to highlight key strategies and adjustments aimed at economic recovery and growth, setting the tone for Nigeria’s financial outlook in the coming year.
