By Hagxy Don
With just days left before the end of January, the Nigerian Senate is racing against the clock to ensure the swift passage of the 2025 Appropriation Bill. The urgency behind this push is not just procedural but a crucial step in stabilizing the country’s economic trajectory amidst ongoing reforms by President Bola Ahmed Tinubu's administration.
Speaking to journalists, Senator Solomon Adeola Olamilekan, Chairman of the Senate Committee on Appropriation, confirmed that both chambers of the National Assembly had agreed to suspend plenary sessions to focus exclusively on budget considerations. “We are fully committed to passing the 2025 budget by January 31. The economic reforms of this administration require a strong fiscal foundation, and we cannot afford delays,” he stated.
The 2025 budget, currently under scrutiny, is expected to prioritize economic recovery, infrastructure development, and measures to curb inflation, aligning with the government’s commitment to sustainable growth. The Minister of Finance, Honorable Wale Edun, recently emphasized the need for Nigeria to double its economic growth to 7% within the next two years, making the timely passage of the budget even more critical.
Observers believe that this race against time is a reflection of the Senate’s determination to restore investor confidence and strengthen fiscal discipline. Political analysts also point out that a swift budget passage will send a strong message about the government’s commitment to economic stability, a key factor in Nigeria’s ongoing engagements with international financial institutions.
As the January 31 deadline looms, all eyes are on the National Assembly to deliver on this crucial mandate. Will the Senate meet its target, or will political bottlenecks derail the process? The coming days will tell.
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