The Senate declared on Monday that it would suspend plenary for two weeks upon resumption on the 14th of this month as both chambers of the National Assembly begin consideration of the N49.7 trillion 2025 budget at the committee level.
The Chairman of the Senate Committee on Appropriation, Senator Solomon Adeola Olamilekan, better known as Yayi, announced that the 2025 Appropriation Bill may be passed by January 31, 2025, following extensive deliberations and consultations.
President Bola Ahmed Tinubu presented the 2025 Appropriation Bill to the National Assembly on December 18, 2024, with a second reading completed on December 19, 2024. The bill was subsequently referred to the Committee on Appropriation for review and further processing.
Speaking at a stakeholders’ meeting on Monday, Senator Adeola emphasized the commitment of the Senate to work tirelessly within the limited timeframe to ensure the timely passage of the budget. He acknowledged the sacrifice of lawmakers who have agreed to forego part of their holidays to focus on the budget review process.
He gave key timelines in the budget review process, including January 15–18, 2025, when the committees will receive and compile reports after inviting ministries, departments, and agencies (MDAs) to defend their budget allocations covering personnel, overhead, and capital expenditures.
January 14–28, 2025, is set as the date when the Senate will observe a two-week period for consultations, reviews, and final adjustments to the budget.
January 31, 2025, is the date when the Senate aims to lay the final report before both chambers of the National Assembly for passage.
To promote transparency, Senator Adeola disclosed plans for a budget retreat scheduled for Thursday of this week.
“The retreat will involve civil society organizations and other stakeholders, offering an opportunity to examine the budget details and provide input.”
Senator Adeola reaffirmed the committee’s readiness to address any issues raised during the process, ensuring the final budget reflects the aspirations of Nigerians.
“We are committed to delivering a document that works for all Nigerians,” he said. “The 31st of January is a tentative but realistic date for passage, and we will do all that is necessary to meet this deadline.”
The Appropriation Committee also assured Nigerians that it would remain open to constructive feedback and collaboration with stakeholders to refine the budget where necessary.
With consultations set to intensify after the Senate reconvenes on January 14, 2025, all eyes will be on the Appropriation Committee as it races against time to meet the January 31st deadline.
The budget’s timely passage is seen as crucial to sustaining economic reforms and governance priorities outlined by President Tinubu’s administration. (Guardian)
