Senate President, Godswill Akpabio, sys the National Assembly will collaborate with the executive arm of government to deliver a realistic and implementable 2025 budget.
By Naomi Sharang
Senate President, Godswill Akpabio, sys the National Assembly will collaborate with the executive arm of government to deliver a realistic and implementable 2025 budget.
Akpabio stated this at a retreat on the 2025 Appropriation Bill organised by the Senate Committee on Appropriations on Thursday in Abuja.
He said that the budget would be reflective of shared national priorities.
The senate president that by coming together, the government, private sector and citizens could go far in crafting a budget that would not only meet immediate needs but also build a resilient and inclusive economy.
This, according to him, will be a demonstration of the fact that governance is not a solitary endeavour but a collaborative mission.
“Let us, therefore, deliberate, in order to craft a budget that embodies the aspirations, struggles and dreams of our people; a budget that restores faith and renews hope.
“Together, we must ensure that this budget is not a mere ledger of revenue and expenditures but a living document that prioritises the welfare of every Nigerian,” he said.
Also speaking, Chairman, Senate Committee on Appropriations, Sen. Solomon Adeola,
assured that every naira allocated for the 2025 Budget would be strategically invested in projects and programmes that would tangibly improve the lives of Nigerians.
Adeola said that there was no incident of budget padding in the 2024 Appropriation Act.
“The unfounded allegations of missing N3 trillion misrepresented the facts on the funds appropriated for agencies whose funds are on the first-line charge.
“It is important to remind us all that the Constitution of the Federal Republic of Nigeria vested in the National Assembly appropriation rights and powers over public revenues and expenditures,” he said.
The senator stated that the executive had based the realisation of the 2025 budget estimate on some economic assumptions.
“Inflation is projected to decline from an average of 27.85 per cent in 2024 to 15 per cent in the current year. Exchange rate will also stabilise at N1,500 to $1 in the year.
“Given the importance of these economic variables to the 2025 budget, the Appropriations Committee will engage the relevant MDAs and other stakeholders to determine the feasibility or otherwise of these assumptions.
“Where these economic assumptions are retained in the 2025 budget, we will follow up critically with the relevant MDAs all year round,” he said.
Adeola said these efforts would be made to ensure that the assumptions were realised for effective implementation of the budget. (NAN)
