By Our Correspondent
President Bola Ahmed Tinubu has formally requested the approval of the National Assembly to consolidate Nigeria’s 2024 and 2025 federal budgets into a single appropriation framework. The request was conveyed through a letter transmitted to both chambers of the legislature, the Senate and the House of Representatives, and read during plenary sessions in Abuja.
According to the President, the proposed consolidation is aimed at addressing persistent challenges associated with overlapping budget cycles. He explained that the government has often been compelled to implement multiple budgets simultaneously due to delays in budget passage and execution, a situation that has complicated fiscal planning and weakened accountability in public spending.
The consolidated budget is based on the Appropriation Repeal and Re enactment Bill for 2024 to 2025, with a proposed expenditure of 43.56 trillion naira. The bill seeks to repeal the existing 2024 Appropriation Act and re enact it in a manner that aligns spending priorities and implementation timelines with the 2025 fiscal year. This, the President noted, would provide a clearer legal and financial framework for government operations.
Tinubu emphasized that the move would enhance fiscal discipline, improve capital project performance, and ensure more effective monitoring of government expenditure. He stated that consolidating the budgets would eliminate uncertainties surrounding budget extensions and allow ministries, departments, and agencies to focus on executing projects within a single, coherent financial plan.
The proposal also includes measures intended to strengthen legislative oversight, such as stricter rules on budgetary virements and clearer guidelines on the use of excess revenues. These steps, according to the Presidency, are designed to promote transparency and reinforce the constitutional role of the National Assembly in public finance management.
Lawmakers have since begun deliberations on the request. The Senate has taken the matter under consideration, while the House of Representatives has commenced legislative processes on the bill. The outcome of these discussions is expected to have far reaching implications for Nigeria’s budgeting system and overall fiscal management.
If approved, the consolidation would mark a significant shift in Nigeria’s budgetary practice, potentially reshaping how federal budgets are planned, implemented, and reviewed. While supporters argue that it could streamline governance and improve efficiency, others caution that the process must be carefully managed to safeguard accountability and uphold constitutional budgetary principles.
