Senate to Likely Pass N49.7trn 2025 Budget January 31

He made this disclosure on Monday during a meeting with the chairmen of relevant committees on the template for the 2025 Budget Defence Session to guide the budget process towards its eventual signing into law.

Mr Olamilekan further revealed that upon the resumption of plenary by January 14, 2025, the Senate would immediately commence a two-week break for the seamless continuation of the budget defence process.

He equally revealed a planned retreat on Thursday on the budget consideration which will involve ministries, departments and agencies, civil society organisations, and other stakeholders in the polity for further consultation and insight into the content of the budget proposal.

According to the timetable, from January 15 to 18, the committees are expected to submit reports of their documents, after which collation and tiding of documents by the Appropriation Committee.

Acknowledging the limited timeframe, Mr Olamilekan emphasised the need for lawmakers to intensify their efforts, urging his colleagues to forgo their holidays and begin immediate work on the proposed budget estimate, underscoring the importance of timely and efficient handling of the budget process within the stipulated timeframe.

In a related development, the House of Representatives is to commence the defence for the 2025 appropriation bill by Ministries Departments and Agencies on Tuesday.

The chairman House Committee on Appropriation, Mr Abubakar Bichi, revealed this on Monday after a meeting with chairmen of statutory committees at the House of Representatives.

President Bola Tinubu on December 18, 2024 presented the N49.7 trillion Budget Proposal for 2025 before a joint session of the National Assembly, with security and defence, infrastructure, health and education topping the allocations.

The President listed some of the highlights of the budget as defence and security – N4.91 trillion, infrastructure – N4.06 trillion, health – N2.4 trillion, education – N3.5 trillion, among others.

The budget will likely cross N50 trillion upon review by the National Assembly, making it the largest yet the country has ever had since self rule began in 1960.