Mr Agbese noted that adopting a single budget after March 2026 would allow the Executive to manage cash flow more efficiently and ensure the timely release of funds for projects.
The House of Representatives has explained that its decision to repeal and re-enact the 2024 and 2025 Appropriation Acts was taken to align Nigeria’s budgeting process with global best practices, enhance transparency, and resolve implementation challenges associated with running multiple budgets.
The Deputy Spokesperson of the House, Philip Agbese (APC, Benue), who stated this in a statement on Friday, noted that the move was aimed at strengthening accountability across government and easing the oversight burden that often trails budget execution
His explanation followed the House’s passage, on Tuesday, of the revised 2024 Appropriation Act, which increased the total budget size from ₦35.05 trillion to ₦43.56 trillion.
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Lawmakers also passed the revised 2025 budget, approving an aggregate expenditure of ₦48.32 trillion for the period ending 31 March 2026. In addition, the House approved President Bola Tinubu’s request to extend the implementation of the capital component of the 2025 Appropriation Act to 31 March 2026.
The decisions were taken after Mr Tinubu transmitted the Appropriation (Repeal and Re-enactment) Bills for 2024 and 2025 to the National Assembly, seeking legislative approval to repeal the existing budgets and replace them with revised expenditure frameworks that reflect current fiscal realities.
Mr Agbese said the repeal and re-enactment would streamline Nigeria’s fiscal process by ensuring a more coherent and predictable funding structure.
“Basically, it is to align the nation’s budgeting 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.
He explained that the repeal and re-enactment would streamline the fiscal process by ensuring a more coherent and predictable funding structure, while also paving the way for the adoption of a single national budget cycle after 31 March 2026.
Mr Agbese noted that adopting a single budget after March 2026 would allow the Executive to manage cash flow more efficiently and ensure the timely release of funds for projects.
The lawmaker commended the House Committee on Appropriations, chaired by Abubakar Bichi (APC, Kano), for its prompt handling of the re-enactment bills, noting that the committee’s diligence made it possible for the House to pass the bills before adjourning for the Christmas and New Year recess.
He also praised Mr Tinubu for providing leadership that supports fiscal reforms, describing the president’s commitment to ending the practice of running multiple budgets as reassuring.
He recalled that during the presentation of the 2026 budget, Mr Tinubu announced that Nigeria would operate a single budget system from April 2026, anchored on a unified revenue cycle.
“This is research, a very hard one. Avoiding abandoned projects, unpaid contractual obligations, and running multiple budgets, both inherited and those of fulfilled mandates, is a problem facing the nation.
“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,” Mr Agbese said.
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He described Mr Tinubu as a listening leader, noting that the decision to end multiple budgets followed sustained concerns raised by lawmakers and fiscal experts about the risks of fiscal indiscipline.
He also passed a vote of confidence on the president’s economic team, particularly the Ministry of Budget and Economic Planning, for developing a budget framework that reflects Nigeria’s economic realities.
“We want to commend the economic team, especially the budget and planning ministry, for putting together a budget plan that reflects the nation’s reality and the economic interests of the various segments of our society,” he said.
Mr Agbese added that the House remains committed to reforms aimed at strengthening public finance management, improving service delivery and restoring public confidence in the budgeting process.
