Deputy Spokesperson of the Home of Representatives, Philip Agbese, has stated the Federal Authorities will function a single budget from March 2026.
Agbese disclosed this on Friday in an interview with journalists in Abuja, stating that the repeal and re-enactment of each budgets would guarantee a coherent and predictable funding construction.
He stated the repeal and re-enactment of the budget is meant to align the nation’s budgeting system with international and worldwide finest practices.
In accordance to him, it will additionally guarantee transparency and accountability in any respect ranges and reduce the burden of oversight throughout implementation.
“By adopting a single budget after 31 March 2026, the manager will probably be ready to execute the budget with out a lot problem. When there’s a single funding system, it turns into simpler to handle money circulation and guarantee well timed releases,” he stated.
The deputy spokesperson of the Inexperienced Chamber additionally praised President Tinubu for promising budget self-discipline and financial stability.
Agbese added that the parliament is dedicated to reforms that may strengthen public finance administration, enhance service supply, and restore public confidence within the budgeting course of.
DAILY POST studies that the Federal Authorities has confronted vital challenges in executing the 2024 and 2025 budgets, ensuing within the operation of a number of appropriations inside a single fiscal 12 months.
It’s recalled that on Tuesday, the Nationwide Meeting, on the request of President Tinubu, repealed and re-enacted the 2024 and 2025 budgets.
It additionally prolonged the implementation timeline of the 2025 budget by means of March 2026 to guarantee fiscal alignment and continuity of public expenditure.
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