The Senate has announced that the ₦49.7 trillion budget for the 2025 fiscal year is unlikely to be passed before January 31, 2025.
This comes after President Bola Ahmed Tinubu presented the proposed budget to a joint session of the National Assembly on December 18, urging lawmakers to expedite its passage. However, the legislative process is expected to extend into the new year, as budget defence sessions with ministries, departments, and agencies (MDAs) are slated to begin on January 7.
Speaking to journalists in Abuja, Senator Yemi Adaramodu, Chairman of the Senate Committee on Media and Publicity, confirmed the timeline. “The joint committees of the Senate and House of Representatives on Appropriations will commence meetings with MDAs on January 7. The final report on the budget will be presented on January 31,” he said.
The appropriation bill, which has already passed its second reading in both chambers of the National Assembly, will now undergo detailed scrutiny during the budget defence sessions. These hearings are a critical phase in the budget process, allowing lawmakers to examine the proposed allocations and ensure accountability in spending.
While the delay in passing the budget might raise concerns about timely implementation, Senator Adaramodu emphasized the importance of a thorough review to ensure the budget aligns with national priorities and addresses pressing economic challenges.
President Tinubu’s proposed budget, the largest in Nigeria’s history, aims to drive economic growth and development while addressing critical areas such as infrastructure, healthcare, and education.
