The Senate has set a tentative date of January 31, 2025, for the passage of the N49.7 trillion budget for the 2025 fiscal year.
This was disclosed by Senator Solomon Olamilekan Adeola, Chairman of the Senate Committee on Appropriations, during a meeting with chairmen of various standing committees in Abuja.
President Bola Ahmed Tinubu had presented the N49.7 trillion Appropriation Bill to a joint session of the National Assembly on December 18, 2024, urging lawmakers to pass it without delay.
The Appropriation Bill, which has already scaled second reading in both chambers of the National Assembly, is undergoing intense review. Senator Adeola revealed that budget defense by Ministries, Departments, and Agencies (MDAs) would commence today, January 7, with committee reports expected between January 15 and 18.
The collation and finalization of these reports by the Appropriations Committee is scheduled for completion by January 31. However, Adeola emphasized that the January 31 timeline is tentative and meant to guide the legislative process.
“The timeframe for consideration and passage of the budget by the National Assembly is short, but we must strive to achieve the best,” Adeola said during the meeting attended by Senate committee chairmen and principal officers.
Similarly, the House of Representatives has initiated its 2025 budget defense process. Chairman of the House Committee on Appropriations, Rep. Abubakar Kabir Abubakar Bichi, stated that the harmonization of committee reports is expected by January 22, with a final report slated for presentation on January 31.
The 2025 budget outlines significant fiscal plans, and its prompt passage is crucial for the implementation of President Tinubu’s policies aimed at addressing economic challenges and stimulating growth.
