Tinubu sends fresh 2024, 2025 budget bills to NASS for re-enactment

President Bola Ahmed Tinubu has forwarded new Appropriation (Repeal and Re-Enactment) Bills for the 2024 and 2025 fiscal years to the House of Representatives, asking lawmakers to approve a reset of Nigeria’s budget structure.

The move, according to the President, is aimed at aligning the budget with present fiscal realities, strengthening budget implementation and bringing an end to the overlap of multiple running budgets.

In a letter dated December 18, 2025, and addressed to the Speaker of the House of Representatives, Tajudeen Abbas, Tinubu urged the National Assembly to consider the bills “in accordance with the established constitutional and legislative appropriation process.”

Under the proposal, the President is seeking the repeal of the 2024 Appropriation Act of N35.06 trillion and its re-enactment at N43.56 trillion, to be issued from the Consolidated Revenue Fund of the Federation. The revised 2024 framework provides for N1.74 trillion in statutory transfers, N8.27 trillion for debt service, N11.27 trillion for recurrent (non-debt) expenditure and N22.28 trillion for capital expenditure and development fund contributions for the year ending December 31, 2025.

The letter also proposes the repeal of the 2025 Appropriation Act of N54.99 trillion and its re-enactment at N48.32 trillion, comprising N3.65 trillion for statutory transfers, N14.32 trillion for debt service, N13.59 trillion for recurrent (non-debt) expenditure and N16.71 trillion for capital expenditure and development fund contributions, covering the period up to March 31, 2026.

According to the President, the revised bills are designed to accommodate items “not previously recognised” and to reflect a revised capital implementation target of 30 per cent. He said the adjustments align the budget with prevailing fiscal conditions and execution capacity, while preserving credibility and transparency in public finance.

Tinubu further explained that the proposal seeks to extend the 2025 budget implementation to March 31, 2026, to enable the full release of the targeted 30 per cent capital allocation across all Ministries, Departments and Agencies (MDAs).

The President described the move as part of a broader fiscal reform agenda aimed at eliminating the inefficiencies associated with running multiple budgets concurrently.

He said the reforms would strengthen planning, execution and accountability across government expenditure cycles, while providing a transparent and constitutionally grounded appropriation mechanism.

The bills also introduce stricter safeguards on budget implementation. These include provisions requiring that appropriated funds be released and applied strictly for purposes approved by the National Assembly; limiting virement to cases with prior legislative approval; setting conditions for corrigenda where genuine errors impede implementation; mandating separate recording of excess revenue; and restricting its expenditure to cases backed by an Act or approval of the National Assembly. The framework further mandates due-process compliance and periodic reporting on fund releases and agency revenues or assistance.

The President noted that the submission supersedes an earlier request sent to the National Assembly on December 16, 2025.

While urging lawmakers to consider the bills expeditiously, Tinubu reaffirmed his commitment to prudent public financial management and stronger accountability in the execution of Nigeria’s budgets.

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