President Bola Ahmed Tinubu has requested the approval of the National Assembly to extend the implementation of the 2025 budget to March 31, 2026, to enable the full release of the targeted 30 per cent capital allocation to ministries, departments and agencies (MDAs).
The request was contained in a letter dated December 18, 2025, which was read on Friday by the Speaker of the House of Representatives, Tajudeen Abbas. The President transmitted the Appropriation (Repeal and Re-enactment) Bills for the 2024 and 2025 fiscal years.
According to the President, the proposed bills seek to repeal the existing Appropriation Acts and re-enact revised expenditure frameworks that reflect current fiscal realities and government execution capacity.
Under the revised proposal, the 2024 budget would increase from ₦35.06 trillion to ₦43.56 trillion, while the 2025 budget would be adjusted from ₦54.99 trillion to ₦48.32 trillion. The re-enacted 2025 budget is expected to run until March 31, 2026.
Tinubu explained that the adjustment would cover statutory transfers, debt servicing, recurrent expenditure, and capital development contributions. He noted that the submission supersedes an earlier proposal transmitted to the National Assembly on December 16, 2025.
The President said the move forms part of broader fiscal reforms aimed at eliminating overlaps caused by multiple concurrently running budgets, while strengthening planning, execution, transparency and accountability in government spending.
He added that the proposed legislation would also reinforce implementation discipline by ensuring that funds are released strictly for approved purposes, requiring legislative approval for virements, mandating due-process compliance, and providing for periodic reporting on budget performance and agency revenues.