Ahead of the presentation of the 2026 Appropriation Bill, President Bola Tinubu has written the House of Representatives requesting approval to merge the capital components of the 2024 and 2025 Appropriation Acts.
The President’s request was contained in two bills to repeal and reenact the 2024 and 2025 budgets and extend their implementation to 31st of March, 2026.
The executive bills read on the floor of the House by Speaker Mr. Abbas Tajudeen indicate that the budgetary adjustments align with current fiscal realities to allow for full release of capital implementation target of 30 percent to all Ministries, Departments and Agencies of Government.
“The House of Representatives is invited to note that the Bills are submitted to cater for all items not previously recognised while also reflecting a revised capital implementation target of 30%. In addition this, adjustment aligns with current fiscal realities and execution capacities, while ensuring that budget performance remains credible and transparent. It further seeks to extend the 2025 Budget to March 31, 2026 to allow for full release of the target 30% for all MDAs.
“This is part of a broader fiscal reform measure aimed at eliminating the overlap of multiple concurrently running budgets, thereby strengthening planning, execution, and accountability across government expenditure cycles. It further provides a transparent and constitutionally grounded appropriation mechanism, and prudent public financial management framework.
“The Bills also strengthen implementation discipline and accountability by among other provisions: requiring that appropriated funds are released and applied strictly for the purposes specified in the Schedules, providing that virement may only be effected with prior approval of the National Assembly: setting out conditions for corrigenda where genuine errors may hinder implementation, requiring separate recording of excess revenue and limiting its expenditure to an Act or approval of the National Assembly; and mandating due-process compliance and periodic reporting on releases and agency revenues/assistance.
“The House of Representatives is invited to note that, this letter supersedes my earlier submission vide PRES/134/50/S/ARRENB dated 16th December, 2025” the letter read.
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The Bills seek to repeal the 2024 Appropriation Act of N35,055,536,770,218 and re-enact by authorising the issuance from the Consolidated Revenue Fund of the Federation of the total sum of N43,561,041,744,507 comprising N1,742,786.788,150 for Statutory Transfers, N8,270,960,606,831 for Debt Service, N11,268,513,380,853 for Recurrent (Non-Debt) Expenditure, and N22.278,780,968.673 for Capital Expenditure/Development Fund contributions for the year ending 31 December 2025 as provided in the Bill and repeal the 2025 Appropriation Act of N54,990,165,355,396 and re-enact by authorising the issuance from the Consolidated Revenue Fund of the Federation of the total sum of N48,316,242,591,785 comprising N3.645.761,358,925 for Statutory Transfers, N14,317,142.689,548 for Debt Service N13,588,009,682,673 for Recurrent (Non-Debt) Expenditure, and N16.705:328,860,640 for Capital Expenditure/Development Fund contribution. for the year ending 31 March, 2026 as provided in the Bill.
“The House of Representatives is invited to note that the Bills are submitted to cater for all items not previously recognised while also reflecting a revised capital implementation target of 30%. In addition this, adjustment aligns with current fiscal realities and execution capacities, while ensuring that budget performance remains credible and transparent It further seeks to extend the 2025 budget to March 31, 2026 to allow for full release of the target 30% for all MDAs.
“This is part of a broader fiscal reform measure aimed at eliminating the overlap of multiple concurrently running budgets, thereby strengthening planning, execution, and accountability across government expenditure cycles. It further provides a transparent and constitutionally grounded appropriation mechanism, and prudent public financial management framework.
“The Bills also strengthen implementation discipline and accountability by among other provisions: requiring that appropriated funds are released and applied strictly for the purposes specified in the Schedules, providing that virement may only be effected with prior approval of the National Assembly: setting out conditions for corrigenda where genuine errors may hinder implementation, requiring separate recording of excess revenue and limiting its expenditure to an Act or approval of the National Assembly; and mandating due-process compliance and periodic reporting on releases and agency revenues/assistance.
He added that the House of Representatives is invited to note that the letter supersedes his earlier submission vide PRES/134/50/S/ARRENB dated 16th December, 2025.
Lateefah Ibrahim