Why We Repealed and Re-enacted 2024, 2025 Appropriation Acts — Agbese
The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, has explained that the repeal and re-enactment of the 2024 and 2025 Appropriation Acts were aimed at aligning Nigeria’s budgeting process with global best practices, improving transparency, and easing implementation challenges.
Speaking during an interview on Friday, Agbese said the decision was taken to strengthen accountability across all levels of government and reduce the heavy oversight burden that often accompanies budget execution.
According to him, the move will streamline Nigeria’s fiscal framework by creating a more coherent and predictable funding structure.
“Basically, it is to align the nation’s budgeting system with global and international best practices. It is also to ensure transparency and accountability at all levels, and to lessen the burden of oversight during implementation,” Agbese said.
He noted that the repeal and re-enactment would pave the way for the adoption of a single national budget cycle after March 31, 2026, describing the reform as crucial to seamless execution by the Executive arm of government.
Agbese commended the House Committee on Appropriations, chaired by Hon. Abubakar Bichi, for its diligence and prompt handling of the re-enactment bill transmitted by President Bola Ahmed Tinubu. He said the committee’s timely work ensured the bill was considered and passed before lawmakers proceeded on their Christmas and New Year recess.
According to him, the committee’s efforts have also helped address the long-standing challenge of running multiple budgets simultaneously, which he said often leads to fiscal confusion and the dissipation of government resources across numerous projects, resulting in poor outcomes.
The lawmaker observed that the abysmally low performance of the 2025 capital budget was largely due to the execution of multiple budgets at the same time.
“By adopting a single budget after March 31, 2026, the Executive will be able to execute the budget without much hassle. When there is a single funding system, it becomes easier to manage cash flow and ensure timely releases,” he added.
Agbese also commended President Bola Ahmed Tinubu for providing leadership that supports fiscal reforms, describing the President’s commitment to budget discipline and economic stability as reassuring.
His remarks followed President Tinubu’s recent declaration during the presentation of the 2026 budget that Nigeria would end the practice of running multiple budgets by March 2026. The President announced that from April 2026, the country would operate a single budget anchored on a unified revenue cycle.
According to Tinubu, the reform is intended to address persistent challenges such as abandoned projects, unpaid contractual obligations and overlapping budgets inherited across successive administrations.
“This is research, a very hard one. Avoiding abandoned projects, unpaid contractual obligations and running multiple budgets, both inherited and of fulfilled mandates, is a problem staring the nation.
“So we are terminating the habit of running through a budget on one inflow. By March 31, 2026, all capital liabilities from previous years will be fully funded and closed. No overlaps, no excuses and no rollover cultures,” the President said.
Agbese described Tinubu as a listening leader, noting that the decision to end multiple budgets reflected the concerns raised by lawmakers and economic experts who have long warned that the practice fuels fiscal indiscipline.
He also passed a vote of confidence on the President’s economic team, particularly the Ministry of Budget and Economic Planning, praising their efforts in developing a budget framework that reflects Nigeria’s economic realities.
“We want to commend the economic team, especially the budget and planning ministry, for putting together a budget plan that reflects the nation’s reality and the economic interests of the various segments of our society,” he said.
Agbese stressed that the House of Representatives remains committed to reforms that will strengthen public finance management, improve service delivery, and restore public confidence in the country’s budgeting process.
