Tax Reform Bills distracted NASS from maintaining January-December cycle – Senator Adeola

Chairman of the Senate Committee on Appropriation, Senator Solomon Adeola Olamilekan, has disclosed that the push to pass critical tax reform bills temporarily distracted the National Assembly from maintaining the January-to-December budget cycle but assured Nigerians that efforts are underway to meet a January 31, 2025, deadline for the passage of the 2025 Appropriation Bill.

Reacting to a question on the National Assembly’s previous achievement of the January-December budget cycle, which has now been lost, Senator Adeola clarified that the timetable for the budget review remains unchanged, and lawmakers are committed to fast-tracking deliberations to meet the proposed deadline.

Adeola admitted that legislative attention was diverted due to the tax reform bills, which required extensive deliberations and collaboration between the National Assembly and the executive arm.

“Don’t forget that along the line, the tax reform bills took a lot of our time and focus as we worked to ensure they scaled through. We are pleased that the bills have successfully passed the second reading in the Senate and are now before the committee for final review,” Adeola stated.

Despite the distraction, he stressed that work has resumed in earnest since January 6, 2025, with lawmakers agreeing on joint sittings of both chambers—the Senate and the House of Representatives—to accelerate the process.

While acknowledging the challenges posed by the tight timeframe, Adeola expressed confidence that the budget passage deadline is achievable.

“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 that we complete our work swiftly and deliver the budget on time,” he said.

Adeola dismissed fears that the government’s fiscal and economic targets would be compromised, assuring Nigerians that the National Assembly remains aligned with President Bola Tinubu’s policy goals.

“We are working around the clock to ensure that the delay does not derail the set aims and objectives of this administration, especially in driving economic growth and infrastructure development,” he noted.

Adeola called for public support and patience as lawmakers work through the final stages of budget deliberations, stressing that the Senate is determined to retain credibility and efficiency in managing Nigeria’s fiscal policies.

“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,” he assured.

The Appropriation Committee’s focus on a joint legislative approach demonstrates the urgency placed on recovering lost time.

Adeola urged stakeholders and the public to remain optimistic, emphasizing that the process reflects the Senate’s dedication to economic stability and sustainable growth.