NASS extends 2025 budget to March 2026

…as Senate passes N58.47trn 2026 budget through second reading

… version passed for second reading differs from N58.47 trillion approved by FEC with N290bn

….Vows rigorous scrutiny to drive economic growth

…..adjourns to January 27, 2026

Both chambers of the National Assembly on Tuesday extended the implementation of the capital component of the 2025 budget to March 31, 2026.

This is just as the Senate approved for second reading, the N58.47 trillion 2026 Appropriation Bill, with lawmakers pledging rigorous legislative scrutiny to ensure transparency, fiscal discipline and tangible economic outcomes for Nigerians.

The extension of the capital component of the 2024 budget followed the passage of the 2024 and 2025 Appropriation (repeal and re-enactment) Bills, which was transmitted to the House, last week, by President Bola Tinubu, after the reports of both Appropriation Committees, on the two bills, were considered and approved at the Committee of Supply respectively.

The first bill, repealed and reenacted the 2024 Appropriation Act of N35,055,536,770,218 and authorised the issuance from the consolidated revenue fund of the federation of the total sum of N43,561,041,744,507, comprising N1,742,786.788,150 for statutory transfers, N8,270,960,606,831 for debt service, N11,268,513,380,853 for recurrent (non-debt) expenditure, and N22,278,780,968,673 for capital expenditure/development fund contributions for the year ending 31 December 2025.

While the second bill, which repealed and re-enacted the 2025 Appropriation Act of N54,990,165,355,396 and authorised the issuance from the consolidated revenue fund of the federation of the total sum of N48,316,242,591,785, comprising N3,645,761,358,925 for statutory transfers, N14,317,142.689,548 for debt service, N13,588,009,682,673 for recurrent (non-debt) expenditure, and N16,765,328,860,640 for capital expenditure/development fund contribution for the year ending 31 March 2026.

Daily Sun