2025 Budget, Tax Bills Top Agenda as N’Assembly Resumes Plenary Today

The National Assembly is expected to intensify efforts to pass the N49.7trillion 2025 Appropriation Bill and Tax Reform Bills as federal lawmakers resume plenary today after the Christmas and the New Year break. Sunday Aborisade reports

Members of the nation’s apex legislative institution proceeded on the Christmas and the New Year break on December 19, 2024 after passing for second reading the 2025 Appropriation Bill, less than 24 hours after it was presented to the joint session of the National Assembly by President Bola Tinubu.

The federal lawmakers thereafter proceeded on holiday and fixed Tuesday, January 14, 2024 as resumption date.

However, two weeks ahead of resumption of plenary, the joint committee on Appropriation in the Senate and House of Representatives, came up with a timetable which was approved by the leadership of both chambers and circulated among the lawmakers.

Chairman, Senate Committee on Appropriation, Senator Solomon Adeola, told newsmen that the National Assembly would suspend plenary for two weeks immediately it resumes from recess on January 14, 2025.

He explained that the development would enable the Appropriation sub-committees of both chambers to  begin consideration of the N49.7trillion 2025 federal budget.

He added that the Red Chamber has also, tentatively fixed January 31 as possible date to lay and pass the report of the Appropriation Committee.

The ranking Senator hinted that stakeholders in the polity, apart from heads of the various ministries, departments and agencies, would have the opportunity to make inputs into the budget last Thursday at an open event which eventually did not hold.

Adeola, stated these when his panel met with chairmen of other standing committees in the Senate.

He added that January 31, 2025 has been tentatively fixed as date for the  laying and passing of the reports of the 2025 Appropriation bill separately before the Senate and the House of Representatives.

The Committee chairman said the time frame for the consideration and passage of the 2025 budget by the National Assembly was short but assured Nigerians that, the best would be made out of it.

His words: “Before this meeting with chairmen of the various standing committees in the Senate, the Appropriation Committee had met for several hours on the best way to handle the consideration of the 2025 budget.

Recall that the fiscal legislative bill was presented to the National Assembly on Wednesday, December 18, 2024 by President Tinubu.

It was passed for second reading by both the Senate and the House of Representatives on Thursday, December 19, 2024.

Adeola, at the meeting with committee chairmen said, “For expeditious and thorough consideration, hard copies of the budget proposals were obtained and already distributed to chairmen of the various committees.

“It would serve as reference documents during budget defence sessions with heads of MDAs. The tentative time table that has been drawn for consideration of the budget at committee level, is that budget defence sessions begin from Tuesday. Reports from various committees are expected to be submitted from 15th to 18th of this month.

Afterwards, collation and tidying up of the various reports will be done by the appropriation committee with the hope of laying final report on the budget to the Senate on 31st of this month. However, the 31st of January fixed for laying of the budget is tentative as it is just given to guide our working,” he explained.

Adeola said the tax reform bills altered the January to December National Assembly’s Budget Cycle last year.

According to him, efforts to pass tax reform bills, distracted the two chambers from meeting the January-to-December budget cycle last year.

He, however, assured Nigerians members of the Senate and House of Representatives were working hard  to meet the January 31 deadline for the passage of the 2025 Appropriation Bill.

Adeola explained that the budget review timetable released penultimate Monday would not be changed.

He said deliberations were being fast-tracked to meet the proposed deadline.

Adeola noted that legislative attention were completely shifted to the tax reform bills, which demanded extensive deliberations and collaboration between the National Assembly and the executive arm of government.

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

Despite the distraction, Adeola said lawmakers resumed work in earnest from January 6, 2025, with joint sittings of both the Senate and the House of Representatives planned to accelerate the process.

He acknowledged the challenges posed by the tight timeframe and expressed optimism that the budget passage deadline is achievable.

His words, “As proposed in the timetable, 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”.

The Senator dismissed fears that the government’s fiscal and economic targets might have been compromised.

He then, reassured Nigerians that the National Assembly remains committed to supporting President Tinubu’s policy goals.

Adeola said, “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.”

He, therefore, called for support and patience from members of the public while stressing that the Senate was committed to retaining credibility and efficiency in managing the nation’s fiscal policies.

According to him: “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”.

Senate Leader, Opeyemi Bamidele, has also said the National Assembly will resume the probe of the alleged saboteurs in the oil and gas sector when the federal parliament resumes.

Bamidele, who stated this in a  New Year message, titled, “Another Year of Limitless Opportunities,” listed the consideration of the N49.7trillion 2025 budget, the tax reform bills, amendment of the 1999 Constitution, among other items that would be on the legislative agenda of the National Assembly in the new year.

According to him, the National Assembly will dutifully sustain the drive of the President Tinubu-led government to deepen global  best practice in the country’s petroleum industry.

The Senate Leader said, “This is the rationale behind the Senate Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry.

“Considering the significance of the Committee, the National Assembly has initiated the process to constitute a joint committee of the Senate and House of Representatives to look more decisively and incisively into diverse issues spurring infraction and sabotage in the petroleum.

“We recognise that a number of unfinished tasks are currently pending before the two chambers of the National Assembly. But consistent with the principles of rational choice, we address each of these tasks in order of national priority or significance.

“Consequently, the next few weeks will be devoted to the scrutiny of the Appropriation Bill, 2025; Tax Reform Bills, 2024; and  investigation of economic sabotage in the petroleum industry.

“We will also work on amendment of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and key economic reform initiatives that have been in the pipeline to open up Nigeria for real businesses that will throw up limitless opportunities”.

He added that the constructive collaboration the National Assembly has been having with the executive since June 2023 is already yielding positive results and repositioning the nation’s economy for the benefit of Nigeria and Nigerians.