The Federal Government of Nigeria will operate a single budget starting from March 2026, the Deputy Spokesperson of the House of Representatives, Philip Agbese, has confirmed. According to Agbese, the move is part of a broader effort to streamline the country’s budgeting system, improve transparency, and align with global best practices.
Agbese made the announcement on Friday in an interview with journalists in Abuja. He explained that the decision follows the recent repeal and re-enactment of both the 2024 and 2025 budgets by the National Assembly. The process, he said, is intended to create a coherent and predictable funding structure that will allow for better management of public resources.
“By adopting a single budget after 31 March 2026, the executive will be able to execute the budget without much hassle,” Agbese said. “When there is a single funding system, it becomes easier to manage cash flow and ensure timely releases.”
The Deputy Spokesperson also highlighted that a unified budget will reduce the burden of parliamentary oversight during implementation. He said it will make the budgeting process more transparent and accountable, improving public confidence in government financial management.
According to him, the move aligns Nigeria’s budgeting process with global and international best practices. Countries around the world typically operate a single annual budget to ensure clarity in fiscal planning and ease of execution. Agbese said that by adopting a similar system, Nigeria will strengthen public finance management and improve service delivery.
He commended President Bola Tinubu for his commitment to budget discipline and economic stability. “The President has demonstrated the political will to ensure that budgets are executed effectively and that public funds are used responsibly,” Agbese said.
The parliament, he added, is also committed to reforms that will improve fiscal management, ensure better service delivery, and restore public trust in government financial systems. “We are determined to make sure that our budgeting process is credible, transparent, and aligned with the expectations of Nigerians,” he said.
Reports indicate that the Federal Government has faced significant challenges in executing the 2024 and 2025 budgets. One of the main issues has been the operation of multiple appropriations within a single fiscal year, which often led to delays in funding and uncertainty in public spending.
The National Assembly recently acted to address these challenges. On Tuesday, at the request of President Tinubu, lawmakers repealed and re-enacted both the 2024 and 2025 budgets. In addition, the implementation timeline of the 2025 budget was extended through March 2026 to ensure fiscal alignment and continuity of public expenditure.
The move is also expected to simplify fiscal oversight by the National Assembly. Currently, monitoring multiple budget appropriations requires extra resources and time. A single budget will allow lawmakers to focus on ensuring that funds are spent properly and in line with approved plans.
In practical terms, the adoption of a single budget means that the executive arm of government can execute planned expenditures more efficiently. Ministries, departments, and agencies will receive funds according to a clear schedule, reducing delays in project execution.
Philip Agbese also emphasized that the reforms are part of a broader agenda to strengthen Nigeria’s public financial management system. “This is not just about numbers on paper,” he said. “It is about improving service delivery to Nigerians, ensuring that public funds reach the intended beneficiaries, and building trust between the government and citizens.”
The challenges experienced with the 2024 and 2025 budgets included late releases of funds, multiple appropriation bills, and inconsistent cash flow management. These issues sometimes disrupted ongoing projects and created bottlenecks in critical sectors such as health, education, and infrastructure.
With the new system, experts say the government will have better control over public resources, making it easier to track expenditures, prioritize spending, and plan for future fiscal needs. The adoption of a single budget will also help Nigeria present a more transparent and credible fiscal policy to international investors and development partners.
The public is expected to benefit from the new approach. Citizens may see improved service delivery, faster completion of government projects, and better access to social services. By making the budgeting process predictable and accountable, the government aims to restore confidence in its financial management.
Leave a Reply