By Fatima Saka
“If the budget works well, the economy will work well — and there will be food on the table for Nigerians,” Chairman of the Senate Committee on Finance, Senator Mohammed Sani Musa, declared on Thursday in Abuja after an interactive and closed-door session with the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Senator Musa, who represents Niger East Senatorial District, told journalists that the session focused on assessing the implementation of the 2024 budget, setting clear expectations for the 2025 fiscal year, and reviewing preparations for the Medium-Term Expenditure Framework (MTEF) covering 2026 to 2029.
According to him, the Senate Committee engaged extensively with the Finance Minister, the Accountant-General of the Federation, and the Director of Budget to evaluate fiscal policies, fund releases, and the performance of capital projects.
“We have reviewed the progress made so far with the 2024 budget, the payments released, the warrants signed, and the level of capital project execution,” Senator Musa said. “While we are making progress, more work needs to be done. We have also agreed that the Ministry of Finance must urgently present the MTEF for 2026–2029 to enable timely planning.”
He also noted that the Committee welcomed President Bola Tinubu’s recent letter to the National Assembly seeking additional loan approvals to strengthen funding for the 2025 budget.
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“We collectively agreed that we must have documented evidence of the 2024 budget performance and clear expectations for 2025 before we begin deliberations on the 2026 MTEF. The Minister of Finance has committed to providing the necessary reports,” he added.
Senator Musa further announced that the Committee will reconvene on October 23, 2025, to review the progress reports and assess how well the nation’s fiscal policies are working, reaffirming the Senate’s commitment to ensuring effective budget implementation for economic growth and public welfare.
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