***Edun, Bagudu, others to appear before Senate Committee on Appropriations
The Senate on Wednesday passed for second reading a Bill seeking to repeal and re-enact the 2024/2025 Appropriations Act, a move that would revise the 2025 budget size to ₦43.56 trillion.
Under the proposed expenditure framework, statutory transfers are pegged at ₦1.74 trillion, debt service at ₦8.27 trillion, recurrent (non-debt) expenditure at ₦11.27 trillion, and capital expenditure and development fund contribution at ₦22.28 trillion.
Following the development, the Senate directed the Minister of Finance, Mr. Olawale Edun; the Minister of Budget and National Planning, Senator Atiku Bagudu; and the Chairman of the Federal Inland Revenue Service, Dr. Zacch Adedeji, among others, to appear before the Senate Committee on Appropriations to provide further clarification on the proposed spending plan.
Leading the debate, the Leader of the Senate, Senator Opeyemi Bamidele, said the bill was a structural and reform-driven intervention aimed at repealing and re-enacting the existing appropriation framework to end the practice of running multiple budget cycles concurrently.
According to him, the practice had historically undermined budget clarity, weakened fiscal discipline and blurred accountability across ministries, departments and agencies. He explained that the amendment would provide a clear and orderly appropriation mechanism to lawfully consolidate and regularise expenditures considered critical, time-sensitive and unavoidable, particularly those incurred in response to emergency situations.
Bamidele noted that the proposal balanced responsiveness with fiscal responsibility, ensuring that urgent public spending does not erode legislative oversight or fiscal prudence. He added that the bill would strengthen safeguards requiring that appropriated funds be released and applied strictly for purposes approved by the National Assembly, while virement would only be permitted with prior legislative approval.
He said the provisions reaffirm the legislature’s power over public finance and ensure transparency, accountability and prudent financial management.
After the debate, the Senate, presided over by the Deputy President of the Senate, Senator Barau I. Jibrin, passed the bill to second reading and referred it to the Senate Committee on Appropriations, chaired by Senator Solomon Adeola, with a mandate to report back to plenary within two days.