With just over two months remaining in the 2024 fiscal year, the House of Representatives has raised concerns about President Bola Tinubu’s breach of the Fiscal Responsibility Act.
In a motion put forward by House member Clement Jimbo, lawmakers pointed out that the 2025 Budget Estimates have yet to be presented to the National Assembly, despite the proximity to the year’s end.
The House expressed concerns over the limited time left to thoroughly review and pass the Medium-Term Expenditure Framework (MTEF), Fiscal Strategy Paper (FSP), and the 2025 Budget Estimates.
Lawmakers emphasized that the Fiscal Responsibility Act of 2007 mandates the prudent management of the nation’s resources, and Section 11(1)(b) requires the Federal Government to submit an MTEF for the next three financial years at least four months before the start of the new fiscal year.
The issue has been referred to the Committee on National Planning.
President Tinubu, meanwhile, embarked on a two-week leave to the United Kingdom on October 2, 2024.