The Chairman of the Senate Committee on Appropriation, Senator Solomon Adeola, said yesterday that the tax reform bills altered the January to December National Assembly’s Budget Cycle last year.
Adeola told journalists in Abuja that last year, efforts to pass tax reform bills distracted the two chambers from meeting the January-to-December budget cycle.
He, however, assured Nigerians that members of the Senate and House of Representatives were working hard to meet the January 31, 2025, deadline for passing the 2025 Appropriation Bill.
Adeola explained that the budget review timetable released on Monday would not be changed.
He said deliberations were being fast-tracked to meet the proposed deadline.
Adeola noted that legislative attention was shifted entirely to the tax reform bills, which demanded extensive deliberations and collaboration between the National Assembly and the executive arm of the federal government.
“Along the line, the tax reform bills took much 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,” Adeola noted.
Despite the distraction, he said lawmakers resumed work in earnest from January 6, 2025, with joint sittings of the Senate and the House of Representatives planned to accelerate the process.
He acknowledged the challenges posed by the tight timeframe, and Adeola expressed optimism that the budget passage deadline is achievable.
He said, “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 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 reassured Nigerians that the National Assembly supports President Bola Tinubu’s policy goals.
Adeola said, “We are working around the clock to ensure that the delay does not derail this administration’s set aims and objectives, especially in driving economic growth and infrastructure development.”
He called for support and patience from members of the public and stressed that the Senate was committed to retaining credibility and efficiency in managing the nation’s fiscal policies.
He said, “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 added
