Lawmakers have strongly criticised the envelope system used to fund the annual budget, calling it anti-democratic and urging the federal government to abandon it.
The Senate voiced these concerns on Thursday as the Appropriations Committee began receiving reports from various committees. They argued that the envelope system undermines effective budget planning and development, advocating for a more efficient, needs-based approach.
In a related move, the Senate Committee on Capital Market rejected the 2025 budget proposal from the Investments and Securities Tribunal (IST) due to errors and discrepancies in the figures. The committee, chaired by Senator Osita Izunaso, directed IST Chairman Amos Azi to return on Friday with a corrected budget. Azi apologised for the mistakes and promised corrections.