The Nigerian Senate and House of Representatives are set to begin deliberations on the 2025 budget proposal, totaling N49.7 trillion, at the committee level on Tuesday.

In preparation, the Senate has announced plans to suspend plenary sessions for two weeks starting January 14, 2025. The tentative date for laying the Appropriation Bill before both chambers is January 31, 2025.

An "Open Day" for budget discussions, which will include contributions from stakeholders and heads of ministries, departments, and agencies (MDAs), has been scheduled for Thursday, January 16.

During a meeting in Abuja with the chairpersons of standing committees, Senator Olamilekan Adeola, Chairman of the Senate Committee on Appropriations, emphasized the need for a meticulous review of the budget despite the tight timeline. The meeting was attended by Senate committee chairpersons and principal officers, including Deputy Leader Senator Lola Ashiru and Senate Whip Senator Tahir Monguno.

Senator Adeola disclosed that prior to the meeting, the Appropriation Committee had held an extensive session to devise an effective approach to review the 2025 budget. He highlighted the distribution of hard copies of the budget proposal to committee chairpersons to aid in their defense sessions with MDAs.

The review process officially begins today with budget defense sessions at the committee level. Reports from these sessions are expected to be submitted between January 15 and 18, after which the Appropriation Committee will consolidate and finalize the findings.

The final budget report is tentatively scheduled for submission to the Senate on January 31, 2025. "The January 31 date serves as a working guide for completing the budget review process," Senator Adeola noted.

President Bola Tinubu presented the 2025 budget to the National Assembly on December 18, 2024. The proposal passed its second reading in both chambers on December 19, 2024, setting the stage for the detailed committee-level review.

The Senate’s decision to host an "Open Day" underscores its commitment to an inclusive review process, allowing stakeholders and MDAs to provide critical input. This approach aims to ensure a transparent and effective allocation of resources to meet Nigeria’s developmental needs.

With the 2025 budget being the largest in the nation's history, the legislative scrutiny and stakeholder engagement will play a crucial role in shaping the fiscal roadmap for the upcoming year.