Tinubu may present 2025 budget in December

• Timing is executive’s decision, says Senate

Indications have emerged that President Bola Tinubu may present the 2025 budget to the National Assembly in early December, as the necessary budget templates are still being finalised.

The Senate’s Committee on Finance has clarified that the timing for the budget presentation rests solely with the executive branch, led by President Tinubu.

Traditionally, under former President Muhammadu Buhari and the 9th National Assembly, the budget was presented in early October. This allowed ample time for committees to examine key documents, such as the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which outline spending priorities and revenue projections. These documents were typically submitted in September to enable in-depth engagement with revenue-generating agencies.

Responding to inquiries last Friday, Senator Mohammed Sani Musa, Chairman of the Senate Committee on Finance, said that the timeline for budget presentation is determined by the executive.

“The executive should be able to answer that question because I know they are doing their work,” he stated.

He added that the committee recently met with Finance Minister Wale Edun and other top economic officials to review the 2024 budget’s performance, indicating that work on the 2025 budget is progressing.

Last year, President Tinubu’s 2024 budget proposal was presented to the National Assembly on November 29, 2023, which resulted in a later-than-usual passage and subsequent signing into law on January 1, 2024.

Currently, there has been no formal communication from the executive regarding the 2025–2027 MTEF, which provides critical economic parameters such as oil price benchmarks, daily oil production targets, and the naira-to-dollar exchange rate—all of which are essential for shaping the budget.

Despite the delay, both Senator Musa and Minister Edun expressed optimism, noting that economic reforms are yielding positive indicators.

Senator Musa stated, “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. Within the next 16 to 18 months, Nigerians will see these gains reflected in real terms.”

This assurance comes as Nigerians anticipate practical improvements from the ongoing economic adjustments, as the government works toward stabilizing the economy.