Why the House Repealed and Re-enacted 2024, 2025 Appropriation Acts — Agbese
The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, has explained that the recent move to repeal and re-enact the 2024 and 2025 Appropriation Acts was aimed at improving Nigeria’s budgeting framework, enhancing transparency, and addressing practical implementation challenges.
Speaking in an interview on Friday, Agbese noted that the lawmakers took the action to bolster accountability across all levels of government while reducing the oversight burdens that often arise during budget execution.
He emphasized that the repeal and re-enactment would help create a more structured and predictable fiscal process for the country.
“Essentially, this step is to align Nigeria’s budgeting system with global best practices. It also seeks to promote transparency and accountability, while easing the pressure of oversight during implementation,” Agbese said.
The lawmaker highlighted that the move would set the stage for a unified national budget cycle after March 31, 2026, a reform he described as crucial for smooth execution by the Executive branch.
Agbese praised the House Committee on Appropriations, led by Hon. Abubakar Bichi, for their prompt and diligent work on the re-enactment bill submitted to the House by President Bola Ahmed Tinubu.
He explained that the committee’s swift action enabled the bill’s consideration and passage before lawmakers left for the Christmas and New Year recess.
According to Agbese, the reform will also address the problems associated with running multiple budgets, which can create fiscal confusion and dilute government resources across various projects, often resulting in poor outcomes.
He cited the underperformance of the 2025 capital budget as an example, attributing it to the simultaneous running of multiple budgets.
“Adopting a single budget after March 31, 2026, will allow the Executive to implement projects efficiently. A unified funding system makes cash flow management easier and ensures timely releases,” he added.
Agbese also commended President Tinubu for his leadership in supporting fiscal reforms, noting that the President’s dedication to budget discipline and economic stability provides reassurance.
The President, during the presentation of the 2026 budget, reiterated that the era of multiple budgets in Nigeria would end by March 2026. From April, the country will operate under a single budget anchored on a unified revenue cycle.
According to President Tinubu, the reform aims to resolve long-standing issues such as abandoned projects, unpaid contractual obligations, and overlapping budgets carried over from previous administrations.
“This is a complex challenge. Abandoned projects, unpaid obligations, and multiple budget cycles have long been a problem. By March 31, 2026, all capital liabilities from previous years will be fully funded and closed. There will be no overlaps or rollover practices,” he said.
Agbese described Tinubu as a responsive leader, noting that the decision to end multiple budgets responds to calls from lawmakers and experts who have long criticized the practice for encouraging fiscal indiscipline.
The lawmaker also praised the President’s economic team, particularly the Ministry of Budget and Economic Planning, for developing a budget framework that accurately reflects Nigeria’s economic realities.
“We commend the economic team, especially the Budget and Planning Ministry, for preparing a budget plan that considers the nation’s realities and the economic interests of various societal segments,” he said.
Agbese stressed that the House remains committed to reforms that strengthen public financial management, improve service delivery, and restore public confidence in the budgeting process.
Why the House Repealed and Re-enacted 2024, 2025 Appropriation Acts — Agbese