The National Assembly has directed the immediate withdrawal of all previously issued circulars related to contract awards under the 2025 fiscal year.
This directive comes as preparations intensify for the implementation of the ₦23.9 trillion capital component of the 2025 budget, which is expected to commence shortly and extend into 2026.
The resolution was reached during a meeting on Thursday between the joint Appropriations Committee and the President’s economic team at the National Assembly.
Key officials in attendance included the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; Director-General of the Budget Office, Tanimu Yakubu; and the Accountant-General of the Federation, Shamsudeen Ogunjimi.
The session reviewed the performance of the 2024 budget and assessed the readiness for implementing the ₦54.9 trillion 2025 budget.
Chairman of the House Committee on Appropriations, Hon. Abubakar Bichi, announced that the Finance Ministry’s circular barring Ministries, Departments, and Agencies (MDAs) from awarding contracts without prior issuance of an Authority to Incur Expenditure (AIE) would be rescinded.
He added that the 2025 budget implementation would begin immediately, with AIEs to be issued within seven days.
Additionally, lawmakers resolved to extend the implementation period of the 2024 budget until December 2025. This decision was ratified by the joint committee, co-chaired by Senator Adeola Olamilekan.
