The National Assembly has ordered the withdrawal of all circulars already issued for contract awards under the 2025 fiscal year. Lawmakers also confirmed that the ₦23.9 trillion capital component of the ₦54.99 trillion 2025 budget will now be extended into the 2026 fiscal year.
The resolution, jointly adopted by the Senate and House of Representatives Committees on Appropriations, was announced during a meeting with the Federal Government’s Economic Team on Thursday at the National Assembly.
This decision builds on an earlier resolution passed by the House Appropriations Committee on Wednesday, after an interactive session with government officials.
Chairman of the Senate Committee on Appropriations, Senator Olamilekan Adeola, explained that the capital component of the 2024 budget would continue until December 31, 2025, while implementation of the 2025 capital budget will begin once the executive issues the necessary Authority to Incur Expenditure (AIE) within seven days of the session.
