•Nigerian Senate
The National Assembly has called for the withdrawal of all circulars issued for contract awards in the 2025 fiscal year, strongly indicating that the N23.9 trillion capital component of the N54.99 trillion 2025 budget will spill over into the 2026 fiscal year.
The resolution was jointly adopted by the Appropriations Committees of both the Senate and House of Representatives at a joint session with the federal government’s economic team today, reports Vanguard.
It followed an earlier decision by the House Appropriations Committee during its interactive session with the economic team yesterday.
Reading the resolution, Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan Adeola (APC, Ogun West), said the capital component of the 2024 budget will continue until December 31, 2025.
He further directed that the implementation of the 2025 capital component should commence immediately, with Authority to Incur Expenditure (AIE) issued within seven days after the meeting.
“Circulars issued by the Ministry of Finance to MDAs should be withdrawn pending issuance of AIE,” Adeola said.
In attendance at the joint assessment of the 2024 and 2025 budget implementation were the Minister of Finance, Mr. Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; Accountant General of the Federation, Mr. Samsudeen Ogunjimi; and Director-General of the Budget Office, Mr. Tanimu Yakubu.
The session later went into a closed-door meeting, with no objections raised by members of the economic team to the adopted resolution.
