Senator representing Ogun West and Chairman of the Senate Committee on Appropriation, Olamilekan Adeola, has said the Senate would stick to the tradition of the January-December cycle for the presentation and implementation of the nation’s annual budget.
Senator Adeola gave the assurance on Wednesday while speaking with journalists shortly after the inauguration of his committee.
The Chairman of the Senate Committee, who had earlier dropped the hint that Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and his counterpart in Budget and Planning, Abubakar Atiku Bagudu, would appear before his Committee next Wednesday, also revealed that the Medium Term Expenditure Framework (MTEF) for the 2024 Budget would be presented next week.
Senator Adeola attributed the delay in the submission of the MTEF to a change in the central government.
He said, “I want you to take cognizance of the change of government on May 29. There is a teething problem because there is a change of government. The new administration has a new mantra that encapsulates its vision, and there must be challenges.
“We will do a thorough job on the budget. Our job is to verify the budget to meet the expectations of the people. We will look into it thoroughly.
“We are expecting the MTEF next week, and immediately we receive the document, the Committee on Finance will go to work and look into it.
The Finance Minister and the Minister of Budget and Planning are working round the clock
“I assure you that we won’t break the tradition; we will have the budget as it is due. We will keep to the tradition of the January to December budget cycle.”
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