Tinubu asks lawmakers to extend 2025 budget deadline to 2026
President Bola Tinubu has formally requested the National Assembly to extend the 2025 budget implementation period until March 31, 2026. The move, announced in a letter read at the House of Representatives on December 18, aims to end the overlap of multiple budget cycles in Nigeria. Tinubu says the extension is part of broader fiscal reforms to improve planning and accountability. Lawmakers are being urged to pass the bills quickly to support national development.
What we know
- Bola Tinubu wants the 2025 Appropriation Act extended to March 31, 2026, to avoid running multiple budgets at once.
- The request was made in a letter dated December 18 and presented during a special House of Representatives session.
- The proposed changes will allow at least 30% of capital allocations to be fully released to Ministries, Departments, and Agencies.
- The 2024 and 2025 budgets will be revised, with the 2025 budget adjusted to N48.32tn and extended to cover the new period.
- Tinubu argues that this move will strengthen fiscal discipline, improve project planning, and enhance transparency in public spending.
