As the National Assembly reconvenes today, Tuesday, Senate Leader, Opeyemi Bamidele has announced that both chambers are anticipating the presentation of the 2025 budget, along with the new Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper from President Bola Tinubu.
In a statement signed personally by Bamidele, he emphasized the critical importance of the MTEF, stating, “The consideration of MTEF occupies a prime place on the rung of our legislative agenda. This is simply because MTEF must be ready before the 2025 Appropriation Bill can be laid before the National Assembly.”
The MTEF is a legal framework providing the budget template and is typically submitted to Parliament before the President’s budget presentation.
The Senate and House of Representatives embarked on their annual recess on July 17 and are set to resume plenary activities today.
Bamidele also highlighted the ongoing efforts to review the 1999 Constitution, which began with the inauguration of a dedicated committee.
He noted that the committee, chaired by Deputy Senate President, Jibrin Barau, will hold retreats, strategy sessions, and zonal meetings to gather input on the constitution’s proposed amendment sections.
“This exercise promises a truly federative approach that will redefine and reinvent public governance in this country,” he added.
Additionally, Bamidele indicated that a joint committee would be inaugurated to investigate allegations of oil theft, addressing a pressing issue that had previously been managed by separate ad hoc committees in the Senate and House of Representatives.
Bamidele said, “As we return fully to the parliamentary sessions on Tuesday this week, the National Assembly will, without ambiguity, revisit its decision to decisively address challenges in the petroleum industry.
“The industry is not optimal in its performance. This may not be unconnected to crude oil theft, endless turnaround maintenance of public refineries, importation of substandard petroleum products, and fuel supply disruption, among others.
“Contrary to some media reports, the Senate never suspended its Ad Hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry, but postponed its public hearing due to the need to address issues that border on the Rules of the National Assembly.”
He said both chambers of the National Assembly would resolve the issues and possibly constitute a joint committee that would continue the investigation from where the ad hoc committee stopped.
The lawmaker noted, “We are committed to unearthing the roots of economic sabotage in the petroleum industry in the national interest and developing institutional mechanisms to make the industry more efficient and functional.”
