Senate: 2025 Budget Unlikely to Pass Before January 31

The Senate has announced that Nigerians should not anticipate the passage of the N49.7 trillion budget for the 2025 fiscal year before January 31, 2025.

President Bola Ahmed Tinubu presented the budget to a joint session of the National Assembly on December 18, 2024, urging lawmakers to expedite the approval process. Despite this request, the legislative timeline indicates that the budget may not be passed until the end of January.

Senator Yemi Adaramodu, Chairman of the Senate Committee on Media and Publicity, addressed journalists in Abuja on Sunday, explaining that the budget defence sessions with ministries, departments, and agencies (MDAs) will commence on January 7, 2025. The joint committees of the Senate and the House of Representatives on Appropriations are scheduled to present their final report on January 31.

“The joint committees of the Senate and House of Representatives will begin discussions with MDAs on January 7, and the final report will be laid on January 31,” Senator Adaramodu confirmed.

The appropriation bill, which proposes significant expenditure for the upcoming fiscal year, has already passed its second reading in both chambers of the National Assembly. However, the legislative process requires thorough scrutiny of the budget by relevant committees before it can be approved.

This timeline suggests that the budget’s passage will align closely with the start of the fiscal year, potentially leaving little room for implementation delays. The Senate remains committed to ensuring a comprehensive review process to address national priorities effectively.