The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, has explained that the decision by the House to repeal and re-enact the 2024 and 2025 Appropriation Acts was aimed at aligning Nigeria’s budgeting framework with global best practices, strengthening transparency and accountability, and addressing implementation challenges associated with running multiple budgets.
Agbese made this known in an interview on Friday, noting that the move was part of broader fiscal reforms designed to ensure a more coherent, predictable, and efficient funding structure for government operations.
According to him, the repeal and re-enactment would reduce the oversight burden that often trails budget implementation while improving accountability at all levels of government.
“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 explained that the decision would also pave the way for the adoption of a single national budget cycle after March 31, 2026, a development he described as critical to seamless budget 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 to the National Assembly by President Bola Ahmed Tinubu. He said the committee’s efficiency made it possible for the House to consider and pass the bill before proceeding on its Christmas and New Year recess.
According to the lawmaker, the committee’s work has helped address the long-standing problem of running multiple budgets, which he said often leads to fiscal confusion, dissipation of government funds, and poor project outcomes.
He noted that the low performance recorded in the 2025 capital budget was largely due to the implementation of multiple budgets at the same time.
“Running multiple budgets leads to fiscal confusion and dissipation of government finances in the execution of several projects, which ultimately results in poor outcomes,” he said.
Agbese added that the adoption of a single budget system after March 31, 2026, would significantly improve budget execution.
“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 explained.
The Deputy Spokesperson also praised 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 commendation followed President Tinubu’s recent pledge that the era of multiple budget implementations in Nigeria would end by March 2026.
During the presentation of the 2026 budget, President Tinubu announced that from April 2026, Nigeria would operate a single budget anchored on a unified revenue cycle. He said the reform was aimed at tackling persistent challenges such as abandoned projects, unpaid contractual obligations, and overlapping budgets inherited across different 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,” the President had said.
“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.”
Agbese described President Tinubu as a listening leader, noted bythat the commitment to end multiple budgets was in response to calls by lawmakers and economic experts who have consistently warned against the fiscal indiscipline associated with overlapping budgets.
He also passed a vote of confidence on the President’s economic team, particularly the Ministry of Budget and Economic Planning, commending them for developing a budget framework that reflects Nigeria’s economic realities and the interests of various segments of society.
“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 budgeting process.
