The House of Representatives has approved President Bola Tinubu’s request to extend the implementation of the 2025 capital budget until March 31, 2026, and has also passed a revised version of the budget.
During Tuesday’s plenary, lawmakers passed bills to repeal and re-enact both the 2024 and 2025 budgets, which adjusts the 2025 budget from ₦54.99 trillion down to ₦48.32 trillion.
The president argued that this extension is a crucial fiscal reform to end the long-standing problem of overlapping budget cycles, which complicates fiscal management and weakens accountability.
The move is designed to allow for the full release and utilization of capital funds for government ministries, departments, and agencies, addressing persistent delays that have undermined the completion of projects.
The chairman of the appropriations committee, Abubakar Bichi, explained that the changes aim to balance fiscal responsibility with responsiveness and that about ₦16.76 trillion from the capital allocation was rolled into the 2026 fiscal year due to funding constraints.
