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From Ndubuisi Orji, Abuja
The Deputy Spokesperson of the House of Representatives, Philip Agbese, has said that the recent repeal and re-enactment of the 2024 and 2025 Appropriation Acts by the parliament was intended to align the country’s budgeting framework with global best practices.
Agbese told journalists, in an interview, on Friday, that the repeal and re-enactment of the Appropriation Acts would help to streamline Nigeria’s fiscal process by ensuring a more coherent and predictable funding structure.
The lawmaker commended the House Committee on Appropriation, led by Abubakar Bichi, for its prompt action on the Repeal and Re-enactment Bill transmitted to the House by President Bola Ahmed Tinubu.
According to him, “basically, it is to align the nation’s budgeting system with global and international best practices. It is also to ensure transparency and accountability at all levels, and to lessen the burden of oversight during implementation. ”
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He stated that the decision would also pave the way for a single national budget cycle after March 31, 2026, which according to him, is critical to seamless execution by the Executive arm.
Agbese noted that the repeal and re-enactment of the 2024 and 2025 Appropriation Acts, has help in addressing the issue of running multiple budgets in the country.
According to him, running of multiple budgets leads to fiscal confusion and dissipation of government’s finances in the execution of multiple projects, leading to poor outcome.
The lawmaker observed that the abysmally low performance of the 2025 capital budget was due to the running of multiple budgets.
He added “by adopting a single budget after March 31, 2026, the Executive will be able to execute the budget without much hassle. When there is a single funding system, it becomes easier to manage cash flow and ensure timely releases. ”
Agbese described Tinubu as a listening leader, stating that his commitment to ending operation of multiple budgets was in response to calls by lawmakers and other experts, who have spoken against the development.
