The National Assembly is set to pass the proposed N49.7 trillion 2025 Appropriation Bill by early February, according to the legislative timeline released recently. The joint National Assembly Committee on Appropriations will present its report on January 31, 2025, clearing the way for the bill’s passage in February.
As part of the budgetary process, Ministries, Departments, and Agencies (MDAs) are scheduled to defend their budget allocations before the relevant committees starting on January 7, 2025. A memo obtained by our correspondent revealed that key government officials, including Wale Edun, the Minister of Finance, and Atiku Bagudu, the Minister of Budget and Economic Planning, will meet with the Senate Committees on Appropriations and Finance on January 7, 2025.
The joint budget defense sessions will begin on January 8 and continue until January 15, 2025. During this period, both the Senate and the House of Representatives will conduct reviews and hearings with relevant MDAs to ensure a thorough examination of the proposed budget.
President Bola Ahmed Tinubu, during his address to a joint session of the National Assembly on December 18, 2024, presented the N49.7 trillion budget proposal titled “The 2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity.” The President emphasized the budget’s focus on achieving national security, economic prosperity, and providing hope for a better future for Nigeria.
The Senate already passed the bill for a second reading on December 19, following a debate on its objectives. It has since been referred to the Senate Committee on Appropriations for further scrutiny. The House of Representatives has also advanced the bill to its appropriations committee for review.
