The Senate is set to begin the budget defence process for Nigeria’s proposed ₦49.7 trillion 2025 budget, with January 31, 2025, earmarked as the provisional date for its passage. Senator Adeola Olamilekan, Chairman of the Senate Committee on Appropriations, announced this during a strategic meeting with chairmen of relevant committees on Monday, laying out a roadmap for the budget’s review and approval process.
Olamilekan disclosed that the Senate would embark on a two-week break starting January 14, 2025, to allow uninterrupted budget defence sessions. This decision aims to provide ministries, departments, and agencies (MDAs) ample opportunity to present and defend their allocations before the committees, ensuring a thorough examination of the budget proposal.
He also revealed that the Senate had scheduled a retreat for Thursday, which will bring together MDAs, civil society organisations, and other key stakeholders. The retreat is intended to foster deeper consultations and provide insights into the budget proposal, enhancing transparency and inclusivity in the process.
According to the timetable outlined by the Appropriations Committee, Senate committees are expected to finalise their reviews and report back between January 15 and 18, 2025. These reports will then be collated and harmonised by the Appropriations Committee to streamline the budget document ahead of its presentation for final approval.
Acknowledging the constrained timeline for budget considerations, Olamilekan called on lawmakers to prioritise the budget defence process. He urged his colleagues to forgo their holidays and commit to working diligently on the budget estimates to meet the January 31 deadline. This, he noted, is critical to maintaining fiscal discipline and preventing unnecessary delays in the passage of the appropriation bill.
The chairman stressed the importance of the budget defence process as a key step in Nigeria’s fiscal planning. By ensuring that every allocation aligns with national priorities, the Senate aims to deliver a budget that addresses pressing socio-economic needs and drives sustainable development across the country.
With the stakes high and time limited, the Senate’s focus remains on efficient and thorough handling of the 2025 budget proposal. The coming weeks will be pivotal in shaping Nigeria’s fiscal trajectory, with the January 31 deadline serving as a rallying point for timely and effective budgetary decisions.
