Why we repealed 2024, 2025 budgets — Reps spokesperson
The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, clarified that the House's choice to repeal and re-enact the Appropriation Acts for 2024 and 2025 is intended to better align Nigeria's budgeting system with international best practices, enhance transparency, and tackle ongoing implementation issues.
Agbese made these comments during a Friday interview, stating that this legislative move aims to reinforce accountability at all levels of government while alleviating the oversight burdens that often hinder the execution of budgets.
“The primary objective is to synchronize the nation’s budgeting framework with global standards and ensure transparency and accountability at every level, as well as to reduce the oversight challenges during implementation,” he noted.
He indicated that the repeal and re-enactment of the appropriation laws would also enable the establishment of a single national budget cycle after March 31, 2026, which he referred to as vital for the efficient and effective execution by the Executive branch.
Agbese praised the House Committee on Appropriations, led by Hon. Abubakar Bichi, for its diligence and promptness in addressing the re-enactment bill submitted by President Bola Ahmed Tinubu.
He remarked that the committee's effectiveness allowed the House to discuss and approve the bill before lawmakers left for the Christmas and New Year break.
Agbese pointed out that managing multiple budgets in Nigeria often leads to fiscal confusion and the fragmentation of government resources across various projects, which results in weak outcomes and poor returns on investment.
He added that the extremely low performance of the 2025 capital budget was mainly due to the concurrent execution of multiple budgets.
“By implementing a single budget after March 31, 2026, the Executive will be able to manage the budget more efficiently. With a unified funding system, it’s easier to control cash flow and ensure timely disbursements,” he elaborated.
Agbese also commended President Tinubu for his leadership in supporting fiscal reforms, noting the President’s dedication to budget discipline and economic stability as encouraging.
During the unveiling of the 2026 budget, President Tinubu proclaimed that the period of executing multiple budgets in Nigeria would conclude by March 31, 2026.
The President indicated that starting in April 2026, the nation would function under a single budget based on a consolidated revenue cycle.
He elaborated that the reform aims to rectify enduring fiscal issues, including uncompleted projects, unpaid obligations, and overlapping budgets from previous administrations.
“This is a research-intensive and challenging task. Preventing abandoned projects, addressing unpaid obligations, and managing multiple budgets, both inherited and for fulfilled mandates, poses a significant challenge for the nation. By March 31, 2026, all capital liabilities from prior years will be fully addressed and settled. No overlaps, no excuses, and no rollover habits,” he remarked.
Agbese characterized President Tinubu as a leader who listens, emphasizing that the choice to eliminate multiple budgets reflects the longstanding concerns expressed by lawmakers and experts about the adverse effects of overlapping budgets on fiscal discipline.
“We acknowledge the economic team, notably the budget and planning ministry, for crafting a budget plan that aligns with the nation’s realities and the economic interests of diverse segments of our society,” he expressed.
He underlined that the House of Representatives remains dedicated to reforms that aim to enhance public finance management, boost service delivery, and restore public trust in Nigeria's budgeting process.
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