President Bola Ahmed Tinubu on Friday wrote to the National Assembly seeking the approval of the lawmakers to extend the life span of the 2025 budget to March 2026.
The letter dated December 18 and read at plenary on Friday by the Speaker, Abbas Tajudeen, is also seeking permission to consolidate the capital components of the 2024 and 2025.
The letter came ahead of the planned consideration of the earlier letter on the two budgets by the House, with the President saying in the letter that the new one supersedes the earlier correspondence dated December 16.
He explained that the request is part of a broader Fiscal reform measure aimed at eliminating the overlap of multiple concurrently running budgets, thereby strengthening planning, execution, and accountability across government expenditure circles.
The letter reads, “I hereby transmit to the House of Representatives the enclosed Appropriation (Repeal and Re-Enactment Bills), 2024 and 2025, for the consideration of the National Assembly, in accordance with the established constitutional and legislative appropriation process.
“The Bills seek to repeal the 2024 Appropriation Act of N35,055,536,770,218 and re-enact by authorising the issuance from the Consolidated Revenue Fund of the Federation of the total sum of N43,561,041,744,507 comprising N1,742,786,788,150 for Statutory Transfers, N8,270,960,606,831 for Debt Service, N11,268,513,380,853 for Recurrent (Non-Debt) Expenditure, and N22,278,780,968,673 for Capital Expenditure/Development Fund contributions for the year ending 31st’ December 2025 as provided in the Bill).
“It also seeks to repeal The 2025 Appropriation Act of N54,990,165,355,396 and re-enact by authorising the issuance from the Consolidated Revenue Fund of the Federation of the total sum of N48,316,242,591,785 comprising N3,645,761,358,925 for Statutory Transfers, N14,317,142,689,548 for Debt Service, N13,588,009,682,673 for Recurrent (Non-Debt) Expenditure, and N16,765,328,860,640 for Capital Expenditure/Development Fund contribution, for the year ending 31§t March, 2026 (as provided in the Bill).
“The House of Representatives is invited to note that the Bills are submitted to cater for all items not previously recognised, while also reflecting a revised capital implementation target of 30%.
“In addition to this, adjustment aligns with current fiscal realities and execution capacities, while ensuring that budget performance remains credible and transparent. It further seeks to extend the 2025 Budget to March 31st, 2026, to allow for full release of the target 30% for ALL MDAs
“This is part of a broader fiscal reform measure aimed at eliminating the overlap of multiple concurrently running budgets, thereby strengthening planning, execution, and accountability across government expenditure cycles.
“It further provides a transparent and constitutionally grounded appropriation mechanism and prudent public financial management framework.
“The Bills also strengthen implementation discipline and accountability by, among other provisions: requiring that appropriated funds are released and applied strictly for the purposes specified in the Schedules; providing that virement may only be effected with prior approval of the National Assembly; setting out conditions for corrigenda where genuine errors may hinder implementation; requiring separate recording of excess revenue and limiting its expenditure to an Act or approval of the National Assembly; and mandating due process compliance and periodic reporting on releases and agency revenues/assistance. ;
“The House of Representatives is invited to note that this letter supersedes my earlier submission vide PRES/134/50/S/ARRENB dated 16″ December, 2025.”
He appealed to the lawmakers to consider the passage of the Bills in their usual expeditious manner.
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