Tinubu Seeks N43.56 Trillion Budget Reset to End Multiple Spending Cycles

• To present 2026 budget to National Assembly tomorrow  

•Edun, Bagudu, others to appear before senate committee on appropriations today

Sunday Aborisade and Adedayo Akinwale in Abuja

President Bola Tinubu yesterday asked the National Assembly to consider and pass a fresh N43.56 trillion Appropriation (Repeal and Re-enactment Bill-2) for the 2024–2025 fiscal period, in a move aimed at ending the simultaneous implementation of multiple budgets within a single fiscal year, and strengthening accountability in public finance management.

Meanwhile, Tinubu will on Friday present the 2026 Appropriation Bill to a joint session of the National Assembly. This was disclosed in a statement issued by Clerk to the National Assembly, Kamoru Ogunlana, and signed on his behalf by Secretary, Human Resources and Staff Development, Essien Eyo Essien.

The statement came as a member of the House of Representatives, Hon. Abdussamad Dasuki, yesterday, raised the alarm over alleged alteration of the tax bills passed by the National Assembly.

In a letter to both chambers of the National Assembly, Tinubu said the proposed legislation would reset the federal budgeting framework, consolidate emergency expenditures undertaken in the national interest, and ensure what he described as “unprecedentedly high” capital performance for the 2024 and 2025 fiscal years.

A breakdown of the proposed legislation showed that it sought authorisation to draw a total of N43,561,041,744,507 from the Consolidated Revenue Fund of the Federation. Of this amount, N1.74 trillion was earmarked for statutory transfers, N8.27 trillion for debt service, N11.27 trillion for recurrent (non-debt) expenditure, while N22.28 trillion was allocated to capital expenditure and development fund contributions.

The figures underscored the administration’s renewed emphasis on infrastructure development and growth-enhancing investments as key drivers of economic recovery and stability.

Tinubu explained that the reworked budget framework would provide an orderly and constitutionally grounded mechanism for consolidating critical, time-sensitive expenditures already incurred in response to emergency exigencies, including those related to national security and the welfare of citizens.

According to him, the initiative strikes a balance between responsiveness to urgent national needs and adherence to fiscal discipline, while also closing loopholes that have historically undermined effective budget implementation.

Beyond the headline allocations, the president outlined far-reaching safeguards embedded in the bill to tighten spending controls and enhance transparency. These include the strict application of released funds to purposes specified in the budget schedules, clear limits on virement without the prior approval of the National Assembly, and well-defined conditions for corrigenda where genuine errors could threaten implementation.

The bill also provides for the separate recording of excess revenue, with its expenditure restricted strictly to acts or approvals of the National Assembly.

In addition, it reinforces due-process compliance and mandates periodic reporting on fund releases, agency-generated revenues, and external assistance.

Tinubu said the measures were designed to deepen transparency, strengthen legislative oversight, and restore public confidence in the budget process, which had often been criticised for weak implementation and limited accountability.

The proposal was expected to attract rigorous scrutiny in both chambers of the National Assembly, especially against the backdrop of mounting fiscal pressures, rising debt service obligations, and the government’s determination to accelerate capital spending as a catalyst for economic growth.

In the senate, the bill was considered and passed for second reading after the president’s letter was read at plenary by the senate president. Subsequently, the upper chamber referred the legislation to Senate Committee on Appropriation for further legislative work, with a directive to report back to plenary as soon as practicable.

The upper chamber disclosed that it had directed Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun; Minister of Budget and National Planning, Senator Atiku Bagudu; and Chairman, Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, among others, to appear before Senate Committee on Appropriations today to provide further clarification on the proposed expenditure plan.

Leading the debate on the amendment, Leader of the Senate, Senator Opeyemi Bamidele, explained the essence of the proposal, saying it is not merely procedural, but structural and reform-driven.

Bamidele stated that the bill sought “to repeal and re-enact the existing appropriation framework to bring an end to the unhealthy practice of running multiple budget cycles concurrently”.

He pointed out diverse explanations, which established that such a practice had historically undermined budget clarity, weakened fiscal discipline, and blurred accountability across ministries, departments and agencies.

He also stated that the amendment bill sought to provide a clear, grounded, and orderly appropriation mechanism that enabled the government to lawfully consolidate, regularise, and appropriate expenditures that were critical, time-sensitive, and unavoidable, particularly those undertaken in response to emergency exigencies.

Describing the proposal as a careful balance between responsiveness and responsibility, Bamidele explained that the amendment was designed to ensure that urgent public spending did not erode legislative oversight or fiscal prudence.

He added that the bill reinforced the collective well-being of Nigerians by ensuring that expenditures aimed at safeguarding national security, social stability, and economic continuity were not left in legal or administrative uncertainty.

Bamidele also observed that the bill showed a clear provision that virement might only be effected with the prior approval of the National Assembly, thereby preventing unilateral budgetary reallocations;

He stated that the provisions “collectively reaffirm the power of the purse vested in the legislature and ensure that executive flexibility does not translate into fiscal opacity or abuse”.

The senate leader added, regarding the proposal, “They deepen trust in public finance administration and reassure Nigerians that every naira appropriated is traceable, justified, and lawfully spent.

“The repeal and re-enactment of the Appropriation Act, as proposed, therefore represents a necessary legislative intervention to consolidate past actions, clarify ambiguities, and provide a stronger statutory foundation for present and future budget implementation.”

After Bamidele’s lead debate, the senate, presided by Deputy President of the Senate, Senator Barau Jibrin, passed the appropriation bill to Second Reading.

Jibrin, consequent upon the approval, referred the bill to Senate Committee on Appropriation under the chairmanship of Senator Solomon Adeola, and mandated it to report back to the plenary within two days.

In the House of Representatives, after reading the letter, Deputy Speaker, Hon. Benjamin Kalu, who chaired the session, ruled that the letter was considered as First Reading, and directed Majority Leader, Hon. Julius Ihonvbere, to move that the bill should be read for the second time.

Kalu’s ruling, however, did not go down well with many lawmakers, as they demanded that members should be given copies of the president’s letter before it could be passed for Second Reading.

The bill was subsequently referred to the House Committee on Appropriation for further legislative action.

Tinubu to Unveil 2026 Budget Before National Assembly Friday

Tinubu will on Friday present the 2026 Appropriation Bill to a joint session of the National Assembly.

A statement by Clerk to the National Assembly, Kamoru Ogunlana, signed on his behalf by Secretary, Human Resources and Staff Development, Essien Eyo Essien, said the president will lay the proposed 2026 budget before the joint sitting at 2pm.

The clerk directed all accredited persons to be at their duty posts by 11am, warning that latecomers would be denied access to the National Assembly Complex due to security arrangements.

The statement also advised non-accredited persons to stay away from the complex on the day of the budget presentation.

In addition, staff members, except the GNA, DENA, Clerk of the Senate, Clerk of the House of Representatives, and their deputies, were instructed to park their vehicles at designated areas within the annex or the new car park by the National Assembly gate.

The clerk stressed the need for strict compliance with the directives by all concerned.

House Member, Dasuki, Raises Alarm, Alleges Tax Law Alteration

A member of the House of Representatives, Hon. Abdussamad Dasuki, yesterday, raised the alarm over alleged alteration of the tax bills passed by the National Assembly.

Dasuki, while speaking under matter of privileges at plenary yesterday, drew the attention of his colleague to the gazetted copy of the new tax laws in circulation that differed in some clauses from the harmonised version passed by Senate and House.

Describing the development as a breach of the constitution, the lawmaker called on the House to revisit the version passed.

He stated, “I’m here today because my privilege has been breached as a member of this all-important House. Mr. Speaker, Honourable colleagues, we passed the tax laws (bills) on this floor. I took my time in the last three days to look at the gazetted copy.

“I also looked at the votes and proceedings of the House of Representatives, and also went an extra mile to look at the votes and proceedings of the Senate, which were harmonised

“Mr. Speaker, Honourable colleagues, what was passed on this floor is not what was gazetted. I’m coming under privilege, because I was here. I gave my vote, and it was counted, and I’m seeing something completely different.

“On that note and on this privilege, I call on Mr. Speaker to graciously look at what was harmonised and what is in the gazetted copy- what was passed in the House and the Senate.”

Dasuki added, “You will find out that what is before Nigerians, which is being sold to Nigerians at the Ministry of Information, is not what was passed.

“I plead that all the documents should be brought before the Committee of the Whole so that we can make the relevant amendments.

“This is a breach of the constitution and our laws, and this should not be taken by this Honourable House.”

At this point, Speaker of the House, Hon. Tajudeen Abbas, said the lawmakers would look into the issue and address it in the interest of the nation.