The National Assembly has received revised Appropriation Bills for 2024 and 2025 from President Bola Tinubu on the day he is expected to present the 2026 Appropriation Bill.
In a letter dated December 18, 2025, addressed to the leadership of the National Assembly, the President explained the the legislation is a crucial step in his government’s effort at recalibrating Nigeria’s fiscal framework to enable the federal government adjust total expenditures in line with updated fiscal realities.
The President noted that the need for the revised budgets stems from challenges in executing previously approved expenditures, overlapping fiscal timelines, and the government’s drive to enhance budget credibility and performance.
For the 2024 budget, initially set at 35.06 trillion naira, the President said it had fallen short in accommodating certain essential items and capital implementation targets while the 2025 budget, originally pegged at 54.99 trillion naira, require adjustments to reflect realistic revenue projections and execution capacity.
Explaining further, the President maintained that his administration had earlier submitted budget proposals for both years, but discrepancies between planned and achievable allocations necessitated a re-evaluation, prompting the current repeal and re-enactment approach.
MUST READ: President Tinubu Presents 2025 Appropriation Repeal, Re-enactment bill
Under the revised 2024 budget, total expenditure increases to 43.56 trillion naira, covering statutory transfers of 1.74 trillion naira, debt service of 8.27 trillion naira, recurrent (non-debt) expenditure of 11.27 trillion naira, and capital expenditure and development fund contributions of 22.28 trillion naira.
The revised 2025 budget seeks a reduction in total expenditure to 48.32 trillion naira, with statutory transfers of 3.65 trillion naira, debt service of 14.32 trillion naira, recurrent (non-debt) expenditure of 13.59 trillion naira, and capital expenditure and development fund contributions of 16.71 trillion naira with the implementation of the 2025 budget set to extend to March 31, 2026, to ensure the full release of the targeted 30 per cent capital allocation for all Ministries, Departments, and Agencies
The President says the adjustments accommodate previously unrecognised budgetary items while aiming to strengthen planning and execution; a move, which according to him, also seeks to prevent the overlap of multiple fiscal years, a recurring challenge in public finance management, and to enhance transparency, credibility, and budget performance.
The President promised lawmakers that the bills aims to introduce measures to enforce fiscal discipline and accountability, including ensuring appropriated funds are used strictly for approved purposes, restricting virement without prior National Assembly approval, and setting conditions for corrections in cases of genuine errors.
President Tinubu noted that the revised bills supersede an earlier submission dated December 16, 2025, expressing confidence that the National Assembly would give the proposals expeditious consideration.
(Editor: Ebuwa Omo-Osagie)
