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In a major move to reform Nigeria’s public accounting system, President Bola Tinubu has formally requested the National Assembly to extend the implementation period of the 2025 Appropriation Act until March 31, 2026.
The proposal, which aims to end the disruptive practice of running multiple budgets simultaneously, was contained in a letter dated December 18 and read during a special Friday plenary by the Speaker of the House of Representatives, Tajudeen Abbas.
The President explained that this new request supersedes a previous communication from December 16, 2025. He argued that the adjustment is necessary to ensure that Ministries, Departments, and Agencies (MDAs) can achieve a minimum of 30 per cent capital allocation releases, which have historically been hindered by the calendar-year cut-off.
According to the President’s letter: “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).”
The President further detailed the adjustments for the 2025 fiscal year, which involves a downward revision of the total budget size to prioritize execution capacity.
He wrote:
”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 31st March, 2026 (as provided in the bill).”
President Tinubu emphasized that these legislative changes are vital for maintaining the integrity of Nigeria’s financial planning.
The letter continued:
”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, 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.”
Since assuming office in May 2023, the Tinubu administration has grappled with the administrative burden of overlapping budget cycles, which experts say distorts project planning and complicates audits. By extending the 2025 budget into the first quarter of 2026, the Presidency hopes to synchronize spending with actual revenue inflows and project completion timelines.
The President urged the lawmakers to consider and pass the bills expeditiously, framing the reforms as a necessary step for national development and improved public accountability.
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