The National Assembly has called for the withdrawal of all circulars already issued for contract awards in the 2025 fiscal year.
The resolution for withdrawal of circulars already issued for contracts award for the 2025 fiscal year by the Executive, was jointly taken by committees on Appropriations of both the Senate and the House of Representatives in Abuja.
The parliament strongly indicated that the N23.9 trillion capital component of the entire N54.99 trillion 2025 budget will extend to 2026 fiscal year.
The joint resolution was sequel to the earlier one taken by the Appropriation Committee in the House of Representatives on Wednesday during interactive session with the economic team of the federal government.
The Chairman of the Senate Committee on Appropriations, Sen. Solomon Adeola said that the capital component of 2024 budget will continue till December 31, 2025.
“Implementation of capital component of 2025 budget will commence as soon as possible, as Authority to Incur Expenditure (AIE), should be issued within seven days after this session with the economic team.
“Circulars issued by the Ministry of Finance to the Ministries Departments Agencies (MDAs) should be withdrawn pending issuance of AIE.”
Members of the economic team at the assessment of 2024 and 2025 budget implementation session with the joint committee include the Minister of Finance, Wale Edun, Minister of Budget and Economic Planning, Sen. Atiku Bagudu.
The two parties later went into closed door session after adoption of the resolution without any contrary opinion from any member of the economic team.
NAN
