2025 Budget: NASS Seeks Withdrawal Of Contract Circulars

The National Assembly connected Thursday called for the withdrawal of each circulars already issued for declaration awards nether the 2025 fiscal year, powerfully indicating that the ₦23.9 trillion superior constituent of the projected ₦54.99 trillion 2025 fund whitethorn widen into the 2026 fiscal year.

The Senate and House Appropriations Committees jointly adopted the solution during a associated interactive league with the national government’s economical squad astatine the Senate helping of the National Assembly.

This associated determination follows an earlier solution the House Committee connected Appropriations reached connected Wednesday, besides during an engagement with the economical absorption team.

Reading the solution astatine the associated session, the Chairman of the Senate Committee connected Appropriations, Senator Solomon Olamilekan Adeola (APC, Ogun West), said: “The superior constituent of the 2024 fund volition proceed until December 31, 2025.

“Implementation of the superior constituent of the 2025 fund volition commence arsenic soon arsenic possible, arsenic Authority to Incur Expenditure (AIE) should beryllium issued wrong 7 days aft this league with the economical team.

“All circulars issued by the Ministry of Finance to MDAs should beryllium withdrawn pending the issuance of AIE.”

Members of the national government’s economical squad contiguous astatine the league included: Minister of Finance, Wale Edun, Minister of Budget and Economic Planning, Senator Atiku Bagudu, Accountant General of the Federation, Samsudeen Ogunjimi, Director-General of the Budget Office, Tanimu Yakubu.

Following the adoption of the resolution, some parties proceeded to a closed-door session. No subordinate of the economical squad raised objections to the resolution.

The determination underscores increasing interest wrong the legislature implicit the request to streamline fund implementation timelines and guarantee effectual execution of superior projects without premature commitments by MDAs (Ministries, Departments, and Agencies).