President Bola Ahmed Tinubu has formally asked the National Assembly to approve an extension of the 2025 budget's validity period. The President's request aims to stretch the budget's implementation timeline to March 31, 2026.
Details of the Presidential Request
The request was contained in a letter dated December 18, 2025, which was read on the floor of the House of Representatives by the Speaker, Tajudeen Abbas, on Friday. The letter transmitted the Appropriation (Repeal and Re-Enactment) Bills for both the 2024 and 2025 fiscal years.
President Tinubu stated that the primary objective is to ensure the full release of the 30 per cent capital allocation designated for all ministries, departments, and agencies (MDAs). This move, he explained, is part of broader fiscal reforms designed to improve government spending efficiency.
Revised Budget Figures and Fiscal Realities
The proposed bills seek to repeal the existing Appropriation Acts and replace them with revised expenditure plans. These new figures are intended to reflect current economic conditions and the government's capacity to execute projects.
Under the new proposals:
- The 2024 budget of N35.06 trillion would be replaced with a revised sum of N43.56 trillion.
- The 2025 budget of N54.99 trillion would be re-enacted at a reduced figure of N48.32 trillion.
The President provided a detailed breakdown of the proposed 2025 budget allocation, which is intended to cover the period ending March 31, 2026:
- Statutory Transfers: N3.645 trillion
- Debt Service: N14.317 trillion
- Recurrent (Non-Debt) Expenditure: N13.588 trillion
- Capital Expenditure/Development Fund: N16.705 trillion
Aiming for Transparency and Accountability
President Tinubu emphasized that this submission supersedes an earlier transmission dated December 16, 2025. He outlined the core benefits of this legislative action, which go beyond a simple date extension.
The initiative is designed to eliminate overlaps from multiple budgets running at the same time. This consolidation is expected to strengthen planning, execution, and accountability across all government expenditure cycles.
The bills also introduce stricter implementation disciplines, including:
- A requirement that appropriated funds are used strictly for their designated purposes.
- A provision that any fund transfers (virement) must receive prior approval from the National Assembly.
- Mechanisms to correct genuine errors that could hinder implementation.
- Mandates for due-process compliance and periodic reporting on fund releases and agency revenues.
By aligning the budget with current fiscal realities and execution capacities, the administration aims to ensure that budget performance remains both credible and transparent for the Nigerian people.
