The National Assembly has directed the withdrawal of all circulars already issued for contract awards under the 2025 fiscal year.
This joint resolution was reached by the Senate and House of Representatives Committees on Appropriations during a session with the federal government’s economic team in Abuja.
Lawmakers emphasized that the capital component of the ₦54.99 trillion 2025 budget—amounting to ₦23.9 trillion—will extend into the 2026 fiscal year.
Senator Solomon Adeola, Chairman of the Senate Committee on Appropriations, explained that implementation of the 2024 capital budget will continue until December 31, 2025. He further noted that the capital component of the 2025 budget would begin promptly, with the Authority to Incur Expenditure (AIE) expected to be issued within seven days of the session.
“Circulars already issued by the Ministry of Finance to Ministries, Departments and Agencies (MDAs) should be withdrawn until the AIE is released,” Adeola said.
Present at the budget implementation review were Finance Minister 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 resolution, lawmakers and the economic team went into a closed-door session, with no objections raised to the decision.