President Bola Tinubu transmitted the Appropriation (Repeal and Re-enactment) Bill-2, 2024-2025 to the National Assembly on December 17, 2025, proposing a consolidated N43.56 trillion spending plan to scrap Nigeria's chaotic practice of juggling multiple budgets simultaneously. The landmark legislation, read by Senate President Godswill Akpabio and House Deputy Speaker Benjamin Kalu, authorizes withdrawals from the Consolidated Revenue Fund for statutory transfers (N1tn-N1.74tn), debt servicing (N8.2tn-N8.27tn), recurrent non-debt expenditure (N4.11tn-N11.2tn), and capital outlays (N22.2tn-N22.28tn) through December 31, 2025.
This move addresses the extension of the 2024 budget originally due to end last December twice into 2025 amid NASS hikes pushing the current frame to N54.2 trillion, creating overlaps that dilute discipline and delay projects. Tinubu emphasized safeguards like strict fund ring-fencing, mandatory NASS approval for virements or corrigenda, segregated excess revenue tracking, and periodic audits to boost capital execution, security, and economic stability in line with constitutional processes.
Lawmakers face expedited deliberation on this fiscal reset, which analysts hail as a pragmatic fix for revenue-expenditure mismatches while critics eye potential power shifts in spending controls. Passage could streamline Tinubu's reforms, curbing supplementary budget proliferation and aligning Nigeria's finances with global best practices ahead of 2026 planning.