The Senate has announced January 31 as the tentative date for passing Nigeria’s 2025 budget, valued at N49.7 trillion. This was disclosed by Senator Solomon Olamilekan Adeola (APC, Ogun West), Chairman of the Senate Committee on Appropriations, during a meeting with chairmen of Senate standing committees in Abuja.
President Bola Ahmed Tinubu had presented the Appropriation Bill to a joint session of the National Assembly on December 18, 2024, urging lawmakers to accelerate its passage. The bill, which has already passed its second reading in both chambers, is now undergoing detailed scrutiny.
Senator Adeola stated that budget defence sessions with ministries, departments, and agencies (MDAs) will commence today, with committees expected to submit their reports between January 15 and 18. These reports will then be collated and reviewed by the Appropriations Committee, paving the way for the final budget report to be laid before the Senate on January 31.
“The January 31 date is a working timeline to guide our processes, though it remains tentative,” Senator Adeola clarified, adding that the timeframe for the budget’s consideration is tight but manageable.
Similarly, the House of Representatives has initiated its budget defence process with MDAs. The Chairman of the House Committee on Appropriations, Rep. Abubakar Kabir Abubakar Bichi, stated that committee reports are expected to be harmonized by January 22, with the House Appropriations Committee presenting its final report on the same January 31 timeline.
Both chambers aim to ensure the timely passage of the budget to facilitate the smooth execution of government policies and projects in the upcoming fiscal year.
