2025 Budget: NASS Demands Withdrawal of Contract Circulars … As ₦23.9trillion Capital Component Rolls Over to 2026

By Iyojo Ameh

The National Assembly on Thursday called for the withdrawal of all circulars already issued on contract awards for the 2025 fiscal year, signaling that the ₦23.9 trillion capital component of the ₦54.99 trillion 2025 budget will extend into the 2026 fiscal year.

The resolution for the withdrawal of the circulars earlier issued by the executive on contract awards was jointly adopted by the Appropriation Committees of both the Senate and the House of Representatives.

The joint resolution followed an earlier decision taken by the House of Representatives Appropriation Committee on Wednesday during its interactive session with the federal government’s economic team.

This collective adoption was reaffirmed during a joint session with the economic team on Thursday at the Senate wing of the National Assembly.

Presenting the resolution, Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan Adeola (Ogun West), stated:

> “The Capital Component of the 2024 budget will continue until December 31, 2025.
Implementation of the Capital Component of the 2025 budget will commence immediately, as the Authority to Incur Expenditure (AIE) should be issued within seven days after this session with the economic team.
Circulars issued by the Ministry of Finance to the MDAs should be withdrawn pending the issuance of the AIE.”

Members of the economic team who attended the session included the Minister of Finance, Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; Accountant General of the Federation, Samsudeen Ogunjimi; and Director-General of the Budget Office, Tanimu Yakubu.

Following the adoption of the resolution, both parties went into a closed-door meeting, with no objections raised by members of the economic team.