National Assembly Prepares for 2025 Budget, Constitution Review, and Oil Theft Probe as Plenary Resumes Today

As the National Assembly reconvenes today, Senate Leader Opeyemi Bamidele has revealed that both chambers are preparing for the imminent presentation of the 2025 budget, alongside the new Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper from President Bola Tinubu.

In a statement personally signed by Bamidele, he underscored the importance of the MTEF, noting, “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 serves as the legal foundation that outlines the budget framework and is typically submitted to the legislature ahead of the President’s formal budget proposal.

Following their annual recess, which commenced on July 17, the Senate and House of Representatives are set to resume plenary today.

Bamidele also drew attention to the ongoing review of the 1999 Constitution, which is being spearheaded by a committee led by Deputy Senate President Jibrin Barau. The committee will conduct retreats, strategy sessions, and zonal meetings to gather public input on proposed amendments.

“This exercise promises a truly federative approach that will redefine and reinvent public governance in this country,” Bamidele added.

In addition, he announced that a joint committee would be formed to address the issue of oil theft—a matter previously handled by separate ad hoc committees in the Senate and House of Representatives.

“As we return fully to parliamentary sessions this week, the National Assembly will revisit its decision to decisively tackle challenges in the petroleum industry,” Bamidele stated.

He pointed out that the industry’s underperformance is linked to issues such as crude oil theft, persistent maintenance of public refineries, importation of substandard petroleum products, and fuel supply disruptions.

Contrary to media reports, Bamidele clarified that the Senate had not suspended its Ad Hoc Committee on Economic Sabotage in the Petroleum Industry but had postponed its public hearing to address procedural issues.

The lawmaker emphasized that both chambers would collaborate to resolve these matters, likely forming a joint committee to continue the investigation from where the ad hoc committee left off.

“We are determined to expose the roots of economic sabotage in the petroleum sector and develop institutional mechanisms to make the industry more efficient in the national interest,” Bamidele concluded.