From Victor Osula, Abuja
President Bola Tinubu has written to the National Assembly seeking legislative approval to extend the lifespan of the 2025 Appropriation Act to March 31, 2026, as part of ongoing fiscal reforms aimed at strengthening budget planning, execution and accountability.
The President’s request was contained in a letter read at plenary on Friday by the Speaker of the House of Representatives, Tajudeen Abbas. Dated December 18, 2025, the letter also sought the approval of lawmakers to consolidate the capital components of the 2024 and 2025 budgets.
According to the President, the proposal is intended to eliminate the overlap of multiple concurrently running budgets, a development he said has continued to undermine effective implementation and fiscal discipline.
He explained that he transmitted the Appropriation (Repeal and Re-Enactment) Bills for 2024 and 2025 to the National Assembly in line with the constitutional and legislative appropriation process.
Under the proposal, the 2024 Appropriation Act of ₦35.05 trillion would be repealed and re-enacted at ₦43.56 trillion for the year ending December 31, 2025. The amount comprises ₦1.74 trillion for statutory transfers, ₦8.27 trillion for debt service, ₦11.27 trillion for recurrent (non-debt) expenditure and ₦22.28 trillion for capital expenditure and development fund contributions.
Similarly, the 2025 Appropriation Act of ₦54.99 trillion would be repealed and re-enacted at ₦48.32 trillion to cover the period ending March 31, 2026. The revised figure includes ₦3.65 trillion for statutory transfers, ₦14.32 trillion for debt service, ₦13.59 trillion for recurrent (non-debt) expenditure and ₦16.77 trillion for capital expenditure and development fund contributions.
The President noted that the adjustments would cater for budgetary items not previously recognised and reflect a revised capital implementation target of 30 percent. He added that extending the 2025 budget to the first quarter of 2026 would allow for the full release of the targeted 30 percent capital allocation to all ministries, departments and agencies (MDAs).
According to President Tinubu, the proposed measures align with prevailing fiscal realities and government execution capacities, while ensuring that budget performance remains credible and transparent.
He further stated that the Bills would strengthen implementation discipline and accountability by ensuring that appropriated funds are released strictly for their approved purposes, restricting virement without prior approval of the National Assembly, providing for corrigenda where genuine errors may hinder implementation, and mandating due process compliance as well as periodic reporting on budget releases and agency revenues.
The President urged lawmakers to consider and pass the Bills in their usual expeditious manner in the interest of effective governance and sound public financial management.
