The Deputy Spokesperson of the House of Representatives, Hon. Philip Agbese, has said the recent decision by the House to repeal and re-enact the 2024 and 2025 Appropriation Acts was driven by the need to align Nigeria’s budgeting framework with global best practices, enhance transparency, and ease implementation challenges.
Speaking in an interview on Friday, Agbese said the lawmakers took the step to strengthen accountability at all levels of government while reducing the oversight burden that typically trails budget execution.
According to him, the repeal and re-enactment will help streamline the country’s fiscal process by ensuring a more coherent and predictable funding structure.
“Basically, it is to align the nation’s budgeting system with global and international best practices. It is also to ensure transparency and accountability at all levels, and to lessen the burden of oversight during implementation,” Agbese said.
He noted that the decision would also pave the way for a single national budget cycle after March 31, 2026, a move he described as critical to seamless execution by the Executive arm.
Agbese commended the Hon. Abubakar Bichi-led House Committee on Appropriations for their diligent and prompt work on the re-enactment bill transmitted to the House by President Bola Ahmed Tinubu.
He said the committee’s promptness paved the way for the eventual consideration and passage of the bill before the lawmakers proceeded on their Christmas and New Year holidays.
According to him, the work of the committee has further helped in addressing the issue of running multiple budgets in the country.
He said running of multiple budgets will lead to fiscal confusion and dissipation of the government’s finances in the execution of multiple projects, leading to poor outcomes.
The lawmaker observed that the abysmally low performance of the 2025 capital budget was due to the running of multiple budgets.
“By adopting a single budget after March 31, 2026, the Executive will be able to execute the budget without much hassle. When there is a single funding system, it becomes easier to manage cash flow and ensure timely releases,” he added.
