2025 Budget: Senator Insists On January 31 Deadline; Blames Tax Bill For Delay

Senator Solomom Adeola has assured that the 2025 Budget will be passed as scheduled on January 31, urging Nigerians not to worry.

The senator who is the Senate Chairman Committee on Appropriation said the Senate is working together with the House of Representatives to ensure that the deadline for the passage of the 2025 Financial estimate is sacrosanct.

Senator Adeola made this remark on Tuesday saying the Budget would have been passed last year but was delayed due to the Tax Reform Bill  sent by President Bola Ahmed Tinubu.

The magazine reported that President Tinubu sent the Tax Bills to the National Assembly in August 2024 amidst  serious controversies among Nigerians on whether the Assembly should go ahead to pass the bill.

Amidst the strong divisions among Nigerians over the Tax Bill, President Tinubu had last December presented the 2025 Budget before the Joint Sitting of the National Assembly.

Critics of the administration insist that the Budget was presented late to the NASS, the reason why the lawmakers failed to pass it before the end of the year as stipulated by the Act of the NASS.

According to Senator Adeola,  the Tax Bill sent to NASS by the president took much of the lawmakers’ time, as they had to deliberate on it, adding that the Bill has now passed First and second Reading and has been sent to Committee stage for further deliberations.

To fast track the passage of the 2025 Budget, the senator said the Senate the  relevant committees of the Upper Chamber with  the House of Representatives committees have been meeting.

The joint committees started meeting on January 6, he said, urging Nigerians to be patient.

Adeola said, “ the tax reform bills took a lot of our time and focus as we worked to ensure they scaled through’’ but “the bills have successfully passed second reading in the Senate and are now before the committee for final review.”

To meet the January 31 deadline “we recommended a joint sitting of both Senate and House committees to engage with ministries, departments, and agencies (MDAs).

“This approach ensures that we complete our work swiftly and deliver the budget on time.”

He adds, “We are working around the clock to ensure that the delay does not derail the set aims and objectives of this administration, especially in driving economic growth and infrastructure development.

“We might have faced a slight setback, but we are determined not to lose focus.

“The budget passage by January 31 will allow the government to implement its programs effectively and on schedule.

“The Appropriation Committee’s focus on a joint legislative approach highlights the urgency placed on recovering lost time.

“We urge stakeholders and the public to remain optimistic. The process reflects the Senate’s dedication to ensuring economic stability and sustainable growth,” he said.