Senate President, Godswill Akpabio and House of Representatives Speaker Abbas Tajudeen have vowed to ensure swift consideration and passage of the 2025 Appropriation Bill.
President Bola Ahmed Tinubu laid the proposal before the Joint session of the National Assembly after giving a few highlights of the fiscal document, christened: “The Restoration Budget: Securing Peace, Rebuilding Prosperity.”
Both leaders spoke during the presentation of the document in Abuja.
Akpabio said: “On behalf of my colleagues, I assure Your Excellency of a swift evaluation of the 2025 Appropriation Bills.
“As expected, we will ensure that due process is followed in passing these bills. We will do what is right and justifiable, conducting public hearings to ensure that the voices of Nigerians resonate within the budget, for all budgets belong to the people.
“If public sentiment necessitates adjustments to specific allocations, we will respond accordingly, ensuring that such actions are not misconstrued as padding.”
In his welcome address titled: “A call to unity and progress”, the Senate President, however urged the President to caution ministers and heads of Ministries, Department and Agencies (MDAs) to promptly honour invitations by relevant committees of the National Assembly to defend their allocations.
Addressing the President, Akpabio said: “Your Excellency, we have noted the 2024 budget performances of 50% for capital expenditure and 48% for recurrent expenditure respectively.
“Given these great achievements, we have deemed it necessary to extend the life of the 2024 Budget to June 30, 2025.
“The enabling law for this extension has already been put in place by this patriotic Assembly, as a testament to our appreciation for the great performance of the budget, ensuring we build upon your momentum.
“We commend your steadfast commitment to collaborate, cooperate, and work with the National Assembly to achieve your grand vision for Nigeria.”
Akpabio commended President Tinubu’s tax reform initiatives, saying: “It is disheartening that those who have not taken the time to understand these bills are the loudest critics. I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.
“This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians.
“Notably, your infrastructure renaissance has paved the way for many roads, including the Coastal Road and crucial arteries in Abuja Capital City and other parts of our dear country.
“These developments are not merely about concrete and asphalt; they represent the lifeblood of our economy, connecting our people and fostering growth.
“Let us take a moment to commend the tireless dedication of each member of this esteemed Senate and House of Representatives.
“Your steadfast commitment to the welfare of our people and the advancement of our nation is a testament to the enduring spirit of Nigeria.
“Your love and support for the Executive Arm in fulfilling its pledge to the Nigerian people make this 10th National Assembly a beacon of patriotism, altruism, and selfless ambition.
“In this moment, let us embrace the inspiring words of President Tinubu ‘Together, we will build a Nigeria that we can all be proud of.’ Let us march forward, united in purpose and unwavering in resolve, as we craft a future that reflects the very best of who we are – a nation of resilience, a nation of hope, a nation of greatness.”
Speaker Abbas commended the proposed budget, adding that the projections of 4.6% Gross Domestic Growth (GDP), a crude oil price of $75 per barrel, an exchange rate of N1, 400 to the dollar and oil production of 2.06 million barrels per day are bold but achievable.
He said: “Addressing these challenges requires urgent and comprehensive tax reforms to broaden our tax base, improve compliance, streamline administration and reduce reliance on borrowing.
“The National Assembly will continue to work with your administration to ensure that such reforms are equitable, effective, and considerate of the needs of vulnerable populations.
“To this end, we have engaged stakeholders to address concerns raised on the tax reform bills, fostering trust and cooperation.
“I have personally led numerous high-level meetings and consultations with state governors and other key stakeholders on this issue, achieving positive outcomes.
“As we approach 2025, we must embrace the realities before us with determination. Stabilising prices, boosting agricultural productivity, expanding infrastructure, and investing in education, healthcare, and security remain paramount priorities.
“To strengthen national unity and build trust, it is essential for the government to communicate its achievements effectively to the Nigerian people.”
He assured the President of the National Assembly’s commitment to supporting the successful implementation of the budget.
Abbas said: “This is not merely your budget; it is a national project requiring collaboration across all arms of government.
“We will work to ensure its timely passage, provide legislative support for critical reforms, and conduct robust oversight to guarantee transparency and efficiency in its execution.
“Let us take a moment to recognise and honour the profound sacrifices made by each and every Nigerian over the past year.
“The removal of fuel subsidies, rising inflation, and adjustments to economic policies have created challenges.”
“Yet these sacrifices are necessary for building a stronger, self-reliant, and prosperous nation. I call on all Nigerians to remain resilient and united in our collective pursuit of a brighter and better Nigeria.”
The bold steps taken by President Tinubu to reposition the economy have no doubt disrupted the status quo in the country, sparking strong resistance from vested interests, the speaker said.
He said the reforms which have begun to yield positive results are a clear indication of the President’s resolve to prioritise the welfare of Nigerians.
Credit: thenationonlineng.net
