Senate Races Against Time to Pass N49.7 Trillion 2025 Budget

***Transparency, Stakeholder Input Take Center Stage

As the Senate prepares to reconvene on January 14, 2025, focus shifts to the pressing task of scrutinizing and approving President Bola Ahmed Tinubu’s N49.7 trillion 2025 Appropriation Bill within a tight timeframe. Lawmakers have agreed to suspend plenary for two weeks to prioritize budget defense sessions and consultations, underscoring their commitment to fast-tracking the process.

Senator Solomon Adeola Olamilekan, Chairman of the Senate Committee on Appropriation, laid out an ambitious schedule, targeting January 31, 2025, as the tentative date for budget passage. In a move to enhance accountability, a budget retreat involving civil society groups and stakeholders is slated for Thursday, providing a platform for in-depth discussions and feedback on allocations.

The decision to forgo part of their holidays highlighted lawmakers’ resolve to deliver a comprehensive budget that supports Tinubu’s economic reform agenda.
However, analysts warn that the compressed timeline poses risks of oversight, potentially leaving critical fiscal details unaddressed.

The coming weeks will test the Senate’s ability to balance speed with scrutiny as stakeholders await clarity on spending priorities and measures to address Nigeria’s economic challenges. All eyes remain fixed on January 31, when the Appropriation Committee is expected to finalize its report for passage.