FG will run one budget from March 2026, says Philip Agbese

Philip Agbese, the deputy spokesperson of the House ofRepresentatives, says the federal government will operate a single budget fromMarch 2026. The federal government has faced significant challenges inexecuting the 2024 and 2025 budgets, resulting in the operation of multipleappropriations within a single fiscal year. On Tuesday, the national assembly, at the request ofPresident Bola Tinubu, repealed and re-enacted the 2024 and 2025 budgets. The national assembly also extended the implementationtimeline of the 2025 budget through March 2026 to ensure fiscal alignment andcontinuity of public expenditure. Speaking with journalists in Abuja on Friday, Abgbese saidthe repeal and re-enactment of both budgets would ensure a coherent andpredictable funding structure. “Basically, it is to align the nation’s budgeting systemwith global and international best practices,” the lawmaker said. “It is also to ensure transparency and accountability at alllevels, and to lessen the burden of oversight during implementation. “By adopting a single budget after March 31, 2026, theexecutive will be able to execute the budget without much hassle. “When there is a single funding system, it becomes easier tomanage cash flow and ensure timely releases. “This is research, a very hard one. Avoiding abandonedprojects, unpaid contractual obligations and running multiple budgets, bothinherited and of fulfilled mandates, is a problem staring the nation in theface. “So, we are terminating the habit of running through abudget on one inflow. By March 31, 2026, all capital liabilities from previousyears will be fully funded and closed. No overlaps, no excuses, and no rollovercultures.” Agbese commended Tinubu for promising budget discipline andeconomic stability. “We commend the economic team, especially the budget andplanning ministry, for putting together a budget plan that reflects thenation’s reality and the economic interests of the various segments of oursociety,” he said. Agbese added that the parliament is committed to reformsthat would strengthen public finance management, improve service delivery, andrestore public confidence in the budgeting process.

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