The National Assembly has directed the immediate withdrawal of all circulars previously issued on contract awards under the 2025 fiscal year, paving the way for swift implementation of the ₦23.9 trillion capital component of the budget.
The resolution was reached on Thursday during a high-level meeting between the joint committee on Appropriations and President Bola Tinubu’s economic team at the National Assembly.
In attendance were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; Director-General of the Budget Office, Tanimu Yakubu; and Accountant-General of the Federation, Shamsudeen Ogunjimi.
The session reviewed the performance of the 2024 budget and assessed strategies for the rollout of the ₦54.9 trillion 2025 budget.
Chairman of the House Committee on Appropriations, Abubakar Bichi, confirmed that the Finance Ministry’s circular restricting Ministries, Departments, and Agencies (MDAs) from awarding contracts until an Authority to Incur Expenditure (AIE) is issued will be scrapped.
He assured that implementation of the 2025 budget would commence without delay, with AIEs expected to be issued within seven days.
In a related move, lawmakers also extended the lifespan of the 2024 budget until December 2025, a resolution adopted by the joint committee chaired by Senator Adeola Olamilekan.
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