The National Assembly (NASS) has called for the withdrawal of all circulars previously issued for contract awards under the 2025 fiscal year.
This action coincides with the impending start of the ₦23.9 trillion capital component of the 2025 budget, which is anticipated to continue throughout 2026.
The resolutions were made at a meeting held Thursday at the National Assembly between the President’s economic team and the joint committee on appropriations.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, Senator Atiku Bagudu, the Minister of Budget and Economic Planning, Tanimu Yakubu, the Director-General of the Budget Office, and Shamsudeen Ogunjimi, the Federation’s Accountant-General, were present.
The purpose of the session was to evaluate the implementation of the ₦54.9 trillion 2025 budget and to analyze the performance of the 2024 budget.
The Ministry of Finance’s circular prohibiting MDAs from issuing contracts until an AIE is issued would be revoked, according to Abubakar Bichi, chairman of the House Committee on Appropriations.
He went on to say that the execution of the 2025 budget will start right away and that an authority to incur expenditure (AIE) would be given in seven days.
In addition, the joint committee led by Senator Adeola Olamilekan approved a resolution extending the 2024 budget’s implementation period to December 2025.
