The Nigerian government has announced plans to operate a single budget from March 2026, aiming to streamline its funding structure and improve financial management. According to Philip Agbese, Deputy Spokesperson of the House of Representatives, this move is intended to align the country’s budgeting system with international best practices, ensuring transparency and accountability.
In an interview with journalists in Abuja, Agbese explained that the repeal and re-enactment of the 2024 and 2025 budgets would facilitate a coherent and predictable funding structure. This, in turn, would enable the executive to execute the budget without significant hurdles, making it easier to manage cash flow and ensure timely releases.
The decision to adopt a single budget is seen as a response to the challenges faced by the Federal Government in executing the 2024 and 2025 budgets, which resulted in the operation of multiple appropriations within a single fiscal year. To address this issue, the National Assembly, at the request of President Tinubu, repealed and re-enacted the 2024 and 2025 budgets, extending the implementation timeline of the 2025 budget through March 2026.
Agbese praised President Tinubu’s commitment to budget discipline and economic stability, noting that the parliament is dedicated to reforms that would strengthen public finance management, improve service delivery, and restore public confidence in the budgeting process. By adopting a single budget, the government aims to enhance its financial management, reduce the burden of oversight, and promote fiscal alignment and continuity of public expenditure.
The move is expected to have a positive impact on the country’s economy, as a single budget would provide a clearer picture of the government’s financial priorities and enable more effective allocation of resources. As the government prepares to implement the new budgeting system, it is likely to face close scrutiny from stakeholders, who will be monitoring its progress and impact on the economy. With the implementation of the single budget set to commence in March 2026, the government will be keen to demonstrate its commitment to fiscal discipline and transparency, and to deliver on its promises of improved public finance management and economic stability.