National Assembly contract circulars withdrawn as lawmakers direct the Federal Government to halt 2025 contract awards pending new expenditure authority

The joint resolution was adopted on Thursday by the Senate and House Committees on Appropriations after a meeting with President Bola Tinubu’s economic team at the National Assembly.

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The move came just a day after the House Appropriations Committee first raised the issue during an interactive session with fiscal managers on the execution of the 2024 and 2025 budgets.

Reading the resolution, Chairman of the Senate Appropriations Committee, Senator Solomon Olamilekan Adeola, said the capital component of the 2024 budget would continue until 31 December 2025.

He added that the capital component of the 2025 budget should begin immediately, with the Authority to Incur Expenditure (AIE) issued within seven days.

“All circulars issued by the Ministry of Finance to the MDAs should be withdrawn pending the issuance of AIE,” Adeola declared.

The directive reflects lawmakers’ growing unease over delays in capital expenditure rollout in an economy battling soaring inflation, declining foreign reserves and mounting debt.

Analysts note that Nigeria’s persistent budget rollovers where projects extend well beyond fiscal years remain a major obstacle to effective governance.

Thursday’s session was attended by 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.

After adopting the resolution, legislators and the economic team went into a closed-door meeting. No official dissent was recorded from the executive side.

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The decision is expected to add fresh pressure on the Tinubu administration to streamline fiscal implementation and restore investor confidence in Nigeria’s budgeting process.