Barely 48 days to the end of 2024, Nigeria’s 2025 budget remains conspicuously absent. This delay—already 44 days beyond the September 30 deadline mandated by the Fiscal Responsibility Act (FRA) 2007—casts a shadow over the nation’s fiscal outlook.
The FRA’s timelines are clear: the Appropriation Bill should be submitted by September 30, and the National Assembly must pass it within 90 days. Yet, as November unfolds, even the preliminary frameworks—the MTEF and MTFF—are missing. This silence from the Presidency, coupled with the legislature’s growing frustration, paints a grim picture of Nigeria’s budgetary process.
In October, the House of Representatives adopted a motion urging the executive to submit the 2025 budget “without further delay.” Yet, over a month later, no tangible progress has been made. The Senate, meanwhile, has remained largely passive, with its Finance Committee deferring responsibility back to the executive.
This inertia is particularly troubling given the lessons of 2024, where delays in budget submission led to rushed approvals, implementation glitches, and economic uncertainty. The stakes for 2025 are even higher. Delayed budgets disrupt planning for businesses, households, and government agencies, leading to inefficient resource allocation and reduced economic growth.
Moreover, the absence of a budget framework undermines transparency and accountability, giving rise to ad-hoc spending and increased debt servicing costs. For a nation already grappling with fiscal challenges, such delays are not just inconvenient—they are detrimental.
As Nigeria navigates this fiscal crisis, the need for reform becomes ever more urgent. Timely budget submission and approval are not mere formalities—they are essential for economic stability and public trust. The silence surrounding the 2025 budget must be broken, and due process restored, to safeguard the nation’s fiscal future.
