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Nigeria's Senate demands a budget report by Oct. 23, delaying 2026–2029 fiscal plans and loan approvals.
The Nigerian Senate has given the executive branch until October 23, 2025, to submit a detailed report on the 2024 budget’s performance and 2025 fiscal projections before considering the Medium-Term Expenditure Framework.
Senate Finance Committee Chairman Sani Musa demanded the data to assess the validity of fiscal assumptions, emphasizing transparency and accountability.
The delay affects progress on the 2026–2029 MTEF and Fiscal Strategy Paper.
President Bola Tinubu has also sought legislative approval for a $2.35 billion loan and $500 million sovereign sukuk to address fiscal challenges amid declining oil revenues and economic pressures.
El Senado de Nigeria exige un informe presupuestario para el 23 de octubre, retrasando los planes fiscales y las aprobaciones de préstamos para el período 2026-2029.