In a bid to strengthen fiscal discipline and accountability, President Bola Tinubu has requested parliamentary approval to consolidate Nigeria’s budget and halt concurrent budget implementations.
In a letter dated December 16, 2025, read at Wednesday’s plenary by Deputy Speaker Benjamin Kalu, the President sought authorization to allocate N43.561 trillion from the federal government’s Consolidated Revenue Fund for the 2026 fiscal year.
The proposed allocations include:
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Statutory Transfers: N1.743 trillion
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Debt Service: N8.271 trillion
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Recurrent (Non-Debt) Expenditure: N11.269 trillion
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Capital Expenditure/Development Fund Contribution: N22.279 trillion
President Tinubu explained that the Appropriation (Repeal and Re-enactment) Bill-2, 2024 is designed to end the practice of running multiple budgets at the same time, while improving capital expenditure performance for the 2024 and 2025 budgets.
He emphasized that the bill provides a transparent, constitutionally grounded framework for managing critical, time-sensitive expenditures, including those required in emergencies, while promoting fiscal discipline, accountability, and prudent public financial management.
The bill also includes provisions to strengthen implementation and oversight, such as:
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Ensuring appropriated funds are used strictly for their intended purposes
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Allowing reallocation of funds (virement) only with National Assembly approval
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Establishing procedures to correct genuine errors that may hinder implementation
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Requiring separate recording and approval of excess revenue
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Mandating compliance with due process and periodic reporting on releases and agency revenues
President Tinubu concluded by urging the House of Representatives to consider and pass the bill promptly, reaffirming his commitment to improving transparency, financial discipline, and the efficient delivery of public services to Nigerians.
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