The National Assembly has asked the Federal Government to immediately withdraw all circulars already issued for contract awards under the 2025.
The directive was jointly adopted on Thursday by the Senate and House Committees on Appropriations after a meeting with President Bola Tinubu’s economic team at the National Assembly.
The move came a day after the House Appropriations Committee first took a similar decision during an interactive session with the government’s fiscal managers on the implementation of the 2024 and 2025 budgets.
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The Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan Adeola (Ogun West), read the resolution at the joint session.
“Capital component of the 2024 budget will continue till December 31st, 2025. The implementation of capital component of 2025 budget will commence as soon as possible as Authority to Incur Expenditure should be issued within seven days after this session with the economic team.
“Circulars issued by the Ministry of Finance to the MDAs should be withdrawn pending issuance of AIE,” he declared.
The move reflects mounting concerns over delays in rolling out the capital expenditure plan in an economy battling high inflation, dwindling foreign reserves, and rising debt.
Political observers say Nigeria’s chronic budget rollover—where capital projects extend beyond fiscal years—has become a recurring feature of governance.
Thursday’s meeting had in attendance the Minister of Finance, Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; Accountant-General of the Federation, Samsudeen Ogunjimi; and Director-General of the Budget Office, Tanimu Yakubu.
After adopting the resolution, lawmakers and the economic team went into a closed-door session, with no official dissent recorded from the executive side.