The National Assembly has requested for the withdrawal of all circulars issued for contract awards in the 2025 fiscal year, saying that the N23.9 trillion capital component of the N54.99 trillion budget may extend into 2026.
This decision was made jointly by the Senate and House of Representatives Appropriation Committees.
Total budget for 2025 is N54.99 trillion, of which capital expenditure was allocated N23.9 trillion (43.65% of the total budget).
Then as recurrent expenditure takes N13.64 trillion and debt servicing rakes N14.3 trillion, statutory transfers takes N3.645 trillion
However, the potential extension of the capital component into 2026 may impact the execution of projects and the overall economic growth of the country.
The National Assembly’s decision to withdraw contract circulars suggests a need for a thorough review of the budget implementation process.
