The National Assembly has ordered the immediate withdrawal of all contract award circulars issued for the 2025 budget as part of efforts to streamline fiscal discipline and fast-track capital project execution.

The move means the ₦23.9 trillion capital component of the ₦54.99 trillion budget will now be implemented over two fiscal years, stretching into 2026.

The resolution, jointly adopted on Thursday by the Senate and House Committees on Appropriations, followed an interactive session with President Bola Tinubu’s economic team at the National Assembly in Abuja.

Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan Adeola (Ogun West), said the decision was designed to avoid missteps in capital project implementation and ensure a smooth transition between fiscal periods.

“The capital component of the 2024 budget will continue until December 31, 2025,” Adeola said.

“Implementation of the 2025 capital budget must commence without delay, and Authority to Incur Expenditure (AIE) should be issued within seven days of this meeting. Circulars already sent by the Ministry of Finance to MDAs are to be withdrawn pending the release of the AIE.”

Those present at the meeting included Finance Minister Wale Edun, Minister of Budget and Economic Planning Senator Atiku Bagudu, Accountant General of the Federation Samsudeen Ogunjimi, and Budget Office Director-General Tanimu Yakubu. The economic team raised no objections before the session moved into a closed-door segment.

Lawmakers said the decision underscores the urgency of aligning budget implementation with Nigeria’s infrastructure priorities under the Renewed Hope Agenda.

The legislature’s intervention also signals a push for greater oversight to ensure that ambitious government spending plans deliver measurable results.

With more time available, ministries, departments, and agencies are expected to accelerate procurement, improve transparency, and deliver projects capable of stimulating economic growth and job creation.