By Peter Omopo
President Bola Ahmed Tinubu has transmitted the Appropriation (Repeal and Re-enactment) Bill, 2024–2025, to the House of Representatives for legislative consideration.
The bill, which was read on the floor of the House by the Deputy Speaker, Benjamin Kalu, was subsequently passed for first and second readings.
According to the proposal, the president is seeking the approval of the National Assembly to withdraw a total of ₦43.56 trillion from the Consolidated Revenue Fund for the 2025 fiscal year. The amount is to cover statutory transfers, debt servicing, recurrent non-debt expenditure and capital spending.
The executive explained that the bill is aimed at addressing fiscal management challenges, particularly the practice of operating multiple budgets concurrently. It is also intended to strengthen fiscal discipline, improve capital budget performance and enhance controls over the release and implementation of public funds.
The bill has been referred to the relevant committees of the House for further legislative scrutiny.
