Senate Advances ₦49.7 Trillion 2025 Budget Proposal, Sets January 14 for Plenary Resumption

The Senate has successfully passed the second reading of the 2025 budget proposal amounting to ₦49.7 trillion. This critical legislative milestone marks the next phase of deliberations on Nigeria’s fiscal priorities for the coming year. The proposed budget focuses on addressing key areas such as infrastructure development, education, healthcare, and economic diversification.

Senate President Godswill Akpabio emphasized the significance of the proposal, urging lawmakers to carefully scrutinize its provisions. The budget, described as the largest in Nigeria’s history, aims to address the country’s socio-economic challenges and create a robust foundation for sustainable growth. The Senate’s commitment to ensuring transparency and accountability in the appropriation process was reiterated during the session.

Proposal Referred to the Senate Committee on Appropriations

Following the passage of the second reading, the 2025 budget proposal has been forwarded to the Senate Committee on Appropriations. The committee, led by Senator Stella Oduah, has been tasked with reviewing the document and submitting its recommendations within four weeks. This process will involve consultations with various stakeholders and government ministries to ensure that allocations align with national priorities.

Senator Oduah assured Nigerians that the committee would conduct a thorough analysis of the budget. She emphasized the importance of addressing funding gaps in critical sectors while ensuring prudent management of resources. The committee’s report is expected to provide a comprehensive breakdown of the proposed expenditure, paving the way for the final legislative stages.

Highlights of the 2025 Budget Proposal

The ₦49.7 trillion budget proposal allocates significant resources to infrastructure projects, aiming to revitalize Nigeria’s transportation and energy sectors. Education and healthcare also receive notable attention, with increased funding to improve access to quality services and address systemic challenges.

Additionally, the budget outlines measures to boost non-oil revenue through enhanced taxation and investment in agriculture and technology. The federal government has described the proposal as a strategic roadmap to reduce unemployment, foster innovation, and strengthen the economy’s resilience.

Lawmakers Praise and Criticize Aspects of the Proposal

During the debate preceding the second reading, lawmakers expressed mixed reactions to the budget proposal. Some senators commended its focus on infrastructure and social welfare, viewing it as a step towards addressing the nation’s developmental needs. Others, however, raised concerns about the projected deficit and the reliance on borrowing to finance the budget.

Opposition lawmakers questioned the feasibility of the revenue targets, calling for more realistic projections. They also urged the federal government to prioritize debt servicing and explore alternative funding mechanisms to reduce the country’s fiscal burden.

Senate Adjourns for Christmas and New Year Holidays

After an eventful plenary session, the Senate adjourned until January 14, 2025, to observe the Christmas and New Year holidays. Senate President Godswill Akpabio extended warm holiday greetings to lawmakers and Nigerians, emphasizing the importance of the season for reflection and unity.

The break provides senators with an opportunity to engage with their constituencies and gather input on the 2025 budget proposal. Upon resumption, the Senate is expected to focus on concluding the budget process and addressing other pressing legislative matters.

Expectations Ahead of the January Resumption

As the Senate prepares to reconvene in January, Nigerians are optimistic about the outcomes of the appropriation process. The public anticipates a budget that prioritizes inclusivity, accountability, and economic growth. Stakeholders have urged the Senate Committee on Appropriations to present a comprehensive report that reflects the nation’s needs and aspirations.

Observers believe the timely passage of the 2025 budget will set the tone for effective implementation. By addressing critical issues such as poverty alleviation, job creation, and infrastructure development, the government can foster long-term progress and improve the quality of life for all Nigerians.