The National Assembly has commenced deliberations on the 2025 budget, which stands at N49.7 trillion, with the Senate set to hold an open day and suspend plenary for two weeks starting January 14. This marks the beginning of the committee-level consideration of the budget.
Senator Solomon Olamilekan Adeola (APC, Ogun West), Chairman of the Senate Committee on Appropriations, announced that Thursday of this week would be dedicated to an open day on the budget, inviting inputs from a broad range of stakeholders in the political and governance spheres, including heads of various ministries, departments, and agencies (MDAs).
During a meeting with the chairmen of standing committees in the Senate, Adeola outlined the timeline for the budget’s review, emphasizing the importance of thorough consideration despite the limited timeframe. The National Assembly had received the 2025 budget from President Bola Tinubu on December 18, 2024, and passed it for second reading the following day, December 19.
As part of the preparation, hard copies of the budget proposals have been distributed to committee chairs to guide their budget defense sessions with MDAs. Budget defense sessions are set to begin on Tuesday, January 9, 2025. Reports from the various committees are expected to be submitted between January 15 and 18.
The final report on the budget is projected to be presented to the Senate on January 31, 2025, though this date is tentative and subject to adjustments based on progress.
Despite the compressed timeline, Senator Adeola affirmed the commitment to ensuring a comprehensive review of the budget, emphasizing the need for collaboration and expediency in meeting the January 31 deadline for laying the final report.
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