The Chairman of the Senate Committee on Appropriations, Adeola Olamilekan, has confirmed that January 31, 2025, will be the provisional date for the passage of Nigeria’s ₦49.7 trillion 2025 budget, as the committee prepares to begin the budget defence process on Tuesday. This announcement was made on Monday during a meeting with chairmen of relevant committees, where they discussed the template for the budget defence sessions, which will guide the process towards the final approval and signing of the budget into law.

Olamilekan also revealed that the Senate will resume plenary on January 14, 2025, after which it will take a two-week break to allow for the uninterrupted continuation of the budget defence process. As part of the preparations, a retreat has been planned for Thursday, where ministries, departments, and agencies (MDAs), civil society organisations, and other key stakeholders will engage in discussions and consultations on the content of the budget proposal.

According to the schedule, Senate committees are expected to submit their reports on the budget from January 15 to January 18. Following this, the Appropriation Committee will begin collating and tidying up the documents for the final stages of the approval process.

Acknowledging the tight timeline, Olamilekan stressed the need for lawmakers to expedite the process and work diligently to ensure the budget is handled efficiently. He urged senators to forego their holidays and prioritize the timely passage of the budget, highlighting its significance for the nation’s economic stability and growth.