President Bola Ahmed Tinubu has asked the National Assembly to repeal and re-enact the 2024 and 2025 Appropriation Acts, while also seeking an extension of the implementation of the 2025 budget to March 31, 2026.
Naijaonpoint reports that the request was contained in a letter dated December 18, 2025, addressed to the Speaker of the House of Representatives, Tajudeen Abbas, and read on the floor of the House during plenary on Friday.
In the letter, the President formally transmitted the Appropriation (Repeal and Re-Enactment) Bills for the 2024 and 2025 fiscal years for legislative consideration, in line with constitutional provisions and established appropriation procedures.
President Tinubu disclosed that the 2024 Appropriation Act, which was initially approved at ₦35.06 trillion, is to be repealed and re-enacted at a higher sum of ₦43.56 trillion.
According to him, the revised 2024 budget framework makes provision for statutory transfers, debt service, recurrent expenditure and capital spending, reflecting changes in fiscal assumptions and implementation realities.
He explained that the reworked figure includes ₦1.74tn for statutory transfers, ₦8.27tn for debt service, ₦11.27tn for recurrent non-debt expenditure and ₦22.28tn for capital expenditure and development fund contributions for the year ending December 31, 2025.
The President also proposed the repeal of the 2025 Appropriation Act, which was originally approved at ₦54.99tn, and its re-enactment at a reduced figure of ₦48.32tn.
He stated that the re-enacted 2025 budget consists of ₦3.65tn for statutory transfers, ₦14.32tn for debt service, ₦13.59tn for recurrent non-debt expenditure and ₦16.71tn for capital expenditure and development fund contributions.
Under the proposal, the lifespan of the 2025 budget will be extended beyond the conventional December 31 deadline to March 31, 2026, a move the President said would allow for improved capital project delivery and better fiscal coordination.
Explaining the rationale for the proposed repeal and re-enactment, Tinubu said the adjustments were intended to accommodate budget items that were not previously recognised and to reflect a revised capital implementation target of 30 per cent.
He said the decision aligns with current fiscal realities and the government’s execution capacity, while ensuring a more credible and transparent budget performance.
According to the President, extending the implementation timeline of the 2025 budget would make it possible for the Federal Government to fully release the targeted 30 per cent capital funds across all ministries, departments and agencies.
Tinubu further informed lawmakers that the proposal forms part of broader fiscal reforms aimed at eliminating the overlap of multiple budgets running concurrently, a situation he said often weakens planning, distorts execution and undermines accountability in public expenditure.
He added that the bills seek to reinforce implementation discipline by ensuring that appropriated funds are released strictly for their approved purposes.
The President noted that virement would be limited to cases approved by the National Assembly, while conditions would be set for corrigenda in situations where genuine errors could affect budget implementation.
The President said the proposed legislation also introduces additional safeguards to strengthen fiscal transparency and oversight.
These include the separate recording of excess revenue, restrictions on spending such funds without legislative approval, mandatory compliance with due process requirements and periodic reporting on fund releases and agency-generated revenues.
Tinubu informed the House that the new submission supersedes an earlier letter transmitted to the lawmakers on December 16, 2025.
He urged the National Assembly to consider and pass the bills expeditiously in order to ensure fiscal stability, improve budget execution and enhance public confidence in the management of government finances.