President Bola Tinubu has announced a definitive plan to terminate Nigeria's long-standing practice of operating multiple budgets, setting a firm deadline for the end of March 2026. The declaration marks a significant shift in the nation's fiscal management approach.
A Hard Reset for National Finance
President Tinubu made this pivotal announcement on Friday, December 19, 2025, while presenting the 2026 Appropriation Bill to a joint session of the National Assembly in Abuja. He described the move as a necessary "reset" for the country's financial governance.
The President stated that by Tuesday, March 31, 2026, Nigeria will conclusively end the multiple budgeting system. From that point forward, the nation will return to a simpler, more accountable arrangement where projected revenue directly funds projected expenditure for each fiscal year.
Terminating a Problematic Habit
In his address to the lawmakers, Tinubu was candid about the challenges posed by the current system. He identified the practice of running multiple budgets as a core problem leading to a cascade of national issues.
"Avoiding abandoned projects, unpaid contractual obligations, and running a multiple budget, both inherited and unfulfilled mandates, it is a problem to the nation," the President asserted. He emphasized the government's resolve by declaring, "So we are terminating the habit of running three budgets on one inflow."
A key component of this fiscal overhaul is the commitment to fully fund and close all capital liabilities carried over from previous years. This clean-up is intended to pave the way for a cleaner financial slate. "From April (2026), Nigeria will operate on a single budget," Tinubu proclaimed, outlining the post-deadline reality.
Implications for Governance and Projects
This policy shift is expected to have profound implications for public financial management. The single-budget system aims to enhance transparency, improve project execution, and ensure that government commitments are matched with available resources within a defined fiscal year.
The move directly targets the perennial issues of abandoned infrastructure projects and lingering debt to contractors, which have often been exacerbated by overlapping and unfunded budgetary mandates from different years.
President Tinubu was accompanied to the National Assembly by key figures, including Vice-President Kashim Shettima, the National Chairman of the All Progressives Congress (APC), Prof. Nentawe Goshwe Yilwatda, and the National Security Adviser, Nuhu Ribadu, underscoring the importance of the budget presentation.
The 2026 budget presentation itself fulfills a constitutional obligation, but the embedded announcement of the multiple budget termination signals a determined effort to reform the foundational processes of Nigerian public finance for the long term.
