The Senate proclaimed 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 commence consideration of the N49.7 trillion 2025 budget at the committee level.
The Chairman of the Senate Committee on Appropriation, Senator Solomon Adeola Olamilekan, otherwise known as Yayi, made known that the 2025 Appropriation Bill may be passed by January 31, 2025, following broad considerations and consultations.
President Bola Ahmed Tinubu presented the 2025 Appropriation Bill to the National Assembly on December 18, 2024, with a subsequent reading finalized on December 19, 2024. The bill was hence alluded to the Committee on Appropriation for review and further processing.
Speaking at a stakeholders’ meeting on Monday, Senator Adeola stressed that the commitment of the Senate to work tirelessly within the restricted time span to guarantee the timely passage of the budget. He recognized the penance of lawmakers who have consented to forego part of their holidays to focus on the budget review process.
He gave key courses of events in the budget review process, including January 15–18, 2025, when the committees will obtain and arrange reports in the wake of welcoming ministries, departments, and agencies (MDAs) to protect 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 time frame for meetings, reviews, and last changes in accordance with 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 uncovered 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 preparedness to resolve any issues raised during the process, guaranteeing the final budget mirrors the desires 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 additionally guaranteed Nigerians that it would be disposed to constructive feedback and coordinated effort with stakeholders to refine the budget where necessary.
With consultations set to solidify after the Senate reconvenes on January 14, 2025, all eyes will be on the Appropriation Committee as it makes moves to beat the clock to meet up with the January 31st deadline.
The budget’s timely passage is viewed as critical to sustaining monetary reforms and administrative needs outlined by President Tinubu’s administration.
