https://en.sputniknews.africahttps://t.me/sputnik_africa/56852

Nigeria Moves to Reset Budget Cycle With $30 Billion Re-Enacted Spending Plan

Nigeria Moves to Reset Budget Cycle With $30 Billion Re-Enacted Spending Plan

Sputnik Africa

Nigeria Moves to Reset Budget Cycle With $30 Billion Re-Enacted Spending PlanPresident Bola Ahmed Tinubu has asked Nigeria’s parliament to approve a 43.56... 18.12.2025, Sputnik Africa

2025-12-18T19:20+0100

2025-12-18T19:20+0100

2025-12-18T19:24+0100

sputnik africa

https://cdn1.img.sputniknews.africa/img/07e9/0c/12/1081600383_0:54:800:504_1920x0_80_0_0_e41331cfff158dd9e04e26065761f6d3.jpg

Nigeria Moves to Reset Budget Cycle With $30 Billion Re-Enacted Spending PlanPresident Bola Ahmed Tinubu has asked Nigeria’s parliament to approve a 43.56 trillion naira ($29.96 billion) repeal-and-reenactment of the 2024 budget, extending its implementation through December 2025 to end overlapping fiscal years.In a letter read by House Speaker Tajudeen Abbas, Tinubu said the move would stop the practice of running multiple budgets concurrently after repeated rollovers of capital spending and improve fiscal discipline and project execution.The revised framework allocatesstatutory transfers: 1.74 trillion nairadebt servicing: 8.27 trillion nairarecurrent expenditure: 11.27 trillion nairacapital projects: 22.28 trillion nairaLawmakers have backed the measure as a one-off reset, with plans to return Nigeria to a clean January–December budget cycle starting in 2026.Subscribe to @sputnik_africa Sputnik Africa | X

2025

News

en_EN

sputnik africa