President Bola Tinubu has declared a definitive end to Nigeria's longstanding practice of operating multiple budgets, setting a firm deadline of Tuesday, March 31, 2026. The announcement marks a significant shift in the nation's fiscal management strategy.
A Hard Reset for National Budgeting
President Tinubu made this pivotal declaration on Friday, December 19, 2025, while presenting the 2026 Appropriation Bill to a joint session of the National Assembly in Abuja. He framed the move as a necessary "reset" for the country's finances.
The President stated that the government is terminating the habit of running three budgets, a system he identified as a root cause of abandoned projects and unpaid contractual obligations. He emphasized that this problematic practice of managing inherited and unfulfilled mandates has persisted as a national issue.
The Path to a Single Budget Framework
Under the new directive, Nigeria will fully settle and close all capital liabilities carried over from previous years. Following the March 2026 deadline, the country will transition to a simplified, single annual budget system starting in April 2026.
This new framework mandates that the nation's projected expenditure for any given year must align directly with its projected revenue. The move aims to instill greater fiscal discipline and transparency in public spending.
High-Profile Support at the Assembly
The budget presentation was a notable event attended by key figures in the current administration. President Tinubu was accompanied by Vice-President Kashim Shettima, the National Chairman of the All Progressives Congress (APC), Prof. Nentawe Goshwe Yilwatda, and the National Security Adviser, Nuhu Ribadu.
Addressing the lawmakers, Tinubu expressed his comfort at being back in the "familiar terrain" of the National Assembly, which he described as a club of great minds central to Nigeria's democracy.
The President's announcement sets a clear timeline for a major reform in Nigeria's public financial management, with the goal of ensuring more efficient and accountable use of national resources.
