• Delay poses reputational challenge to govt, says Uba
• States await FG’s revenue parameters
• ‘We don’t need directive from finance ministry to prepare budget’
The failure of the executive arm of government to submit the 2025 to 2027 Medium-Term Expenditure Framework (MTEF) to the National Assembly may significantly affect the country’s fiscal plan for 2025.
The delay may force the Federal Government to push forward the budget cycle beyond the January take-off time. Sources at the Budget Office told The Guardian at the weekend that the adjustment is dependent on President Bola Tinubu who is yet to communicate clearly when he hopes to present the document to the National Assembly to kickstart the rigorous legislative process.
Section 11(1)(b) of the Fiscal Responsibility Act 2007 mandates the Federal Government, not later than four months before the commencement…
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