The House of Representatives says the repeal and re-enactment of the 2024 and 2025 Appropriation Acts aim to boost transparency, accountability, and ease budget implementation.
Deputy Spokesperson Rep. Philip Agbese said this at a Friday news conference in Abuja, noting it aligns Nigeria’s budgeting with global best practices.
This is coming after President Bola Tinubu, last week, asked the House of Representatives to repeal and re-enact the 2024 and 2025 budgets and extend the 2025 budget to 31 March 2026.
What they are saying
Agbese explained that the decision to re-enact the budgets addresses the challenge of running multiple budgets, which has historically led to fiscal confusion, inefficient allocation of resources, and poor project outcomes.
According to Agbese, the legislative action will streamline fiscal processes, reduce oversight burdens during budget execution, and establish a more predictable funding structure for government projects. He emphasized that the re-enactment sets the stage for a single national budget cycle starting after March 31, 2026, which is critical for seamless execution by the executive arm.
The lawmaker also commended the House Committee on Appropriations, led by Rep. Abubakar Bichi, for its prompt and diligent work in processing the re-enactment bill transmitted by President Bola Tinubu, ensuring its passage before lawmakers proceeded on their holiday recess.
“Basically, it is to align the nation’s budgetting system with global and international best practices. It is also to ensure transparency and accountability at all levels and to lessen the burden of oversight during implementation,” he said.
The lawmaker said that the decision would also pave the way for a single national budget cycle after March 31, 2026, a move he described as critical to seamless execution by the executive arm.
He commended the Rep. Abubakar Bichi-led House Committee on Appropriations for its diligent and prompt work on the re-enactment bill transmitted to the house by President Tinubu.
He said that the committee’s promptness paved the way for the eventual consideration and passage of the bill before the lawmakers proceeded on their Christmas and New Year holidays.
“By adopting a single budget after March 31, 2026, the executive will be able to execute the budget without much hassle. When there is a single funding system, it becomes easier to manage cash flow and ensure timely releases,” he said.
“So we are terminating the habit of running through a budget on one inflow. By March 31, 2026, all capital liabilities from previous years will be fully funded and closed. No overlaps, no excuses and no rollover cultures,” he said.
Backstory
The House of Representatives on Tuesday approved President Tinubu’s request by extending the implementation of the capital component of the 2025 Appropriation Act to 31st March, 2026.
This followed the passage of the 2024 and 2025 Appropriation (repeal and re-enactment) bill, transmitted by the President last week for approval.
Tinubu had, in the cover letter transmitted to the Speaker, solicited the House’s approval to enable the full release of capital implementation funds to all ministries, departments, and agencies (MDAs).
