President Bola Ahmed Tinubu has written to the National Assembly, requesting approval to extend the 2025 budget’s validity until March 2026.
Tinubu in the later read at the plenary by the Speaker, Abbas Tajudeen, is also seeking permission to consolidate the capital components of the 2024 and 2025.
The letter was sent ahead of the House’s planned consideration of the earlier correspondence on the two budgets, with the President noting that the new submission supersedes the one dated December 16.
He explained that the request is part of a broader fiscal reform initiative designed to eliminate overlaps between concurrently running budgets, thereby enhancing planning, execution, and accountability in government spending.
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).
“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.”
