President Bola Tinubu has formally requested the National Assembly to consider and pass the Appropriation, Repeal and Re-enactment Bill 2 of 2024, which proposes a total expenditure of N43.56 trillion for the 2025 fiscal year.....KINDLY READ THE FULL STORY HERE▶

The President conveyed the request through separate letters to the Senate and the House of Representatives on Wednesday. In the Senate, the letter was read during plenary by Senate President Godswill Akpabio, while a corresponding communication, titled “Transmission of the Appropriation (Repeal and Re-enactment) Bill, 2024–2025” and dated December 16, 2025, was addressed to the Speaker of the House, Abbas Tajudeen.

According to the President, the legislation seeks “authorisation for the issuance of N43,561,041,744,507 from the Consolidated Revenue Fund of the Federation for the year ending December 31, 2025.” The proposed allocation includes N1 trillion for statutory transfers, N8.2 trillion for debt servicing, N11.2 trillion for recurrent non-debt expenditure, and N22.2 trillion for capital expenditure and development fund contribution. The House letter provided a slightly different breakdown: N1.74 trillion for statutory transfers, N8.27 trillion for debt service, N4.11 trillion for recurrent non-debt expenditure, and N22.28 trillion for capital expenditure and development fund contribution.

Tinubu emphasized that the bill aims to end the practice of running multiple budgets concurrently while ensuring improved capital performance for both the 2024 and 2025 fiscal years. He highlighted that the proposal would provide “a transparent and constitutionally grounded appropriation framework for consolidating critical and time-sensitive expenditures undertaken in response to emergency situations,” reinforcing fiscal discipline, accountability, and prudent public financial management.

The legislation also includes measures to strengthen implementation discipline by ensuring that appropriated funds are applied strictly as scheduled, allowing virement only with National Assembly approval, recording excess revenue separately, and mandating periodic reporting on agency revenues and expenditures.

The President urged the National Assembly to expedite consideration of the bill. In response, the Senate referred the communication to its Secretariat to initiate the necessary legislative steps. In the House, Deputy Speaker Benjamin Kalu treated the letter as a First Reading and directed the Majority Leader to schedule it for Second Reading. Despite objections from several lawmakers who demanded prior circulation of the bill for review, the motion was seconded and the bill referred to the House Committee on Appropriations for further consideration.

The request comes amid longstanding concerns over Nigeria’s multiple-budget practice, which has complicated implementation, weakened legislative oversight, and blurred fiscal accountability. The Tinubu administration maintains that repealing and re-enacting the 2024 budget into 2025 is intended to streamline public finance management, improve capital project execution, and align budgets with actual revenue and expenditure realities. If approved, the move would mark a significant shift in Nigeria’s traditional annual budgeting process and is expected to spark extensive discussion among lawmakers and fiscal policy experts.