The National Assembly on Thursday called for the withdrawal of all circulars already issued for contracts awards in the 2025 fiscal year.
It strongly indicated that the N23.9trillion capital component of the N54.99trillion 2025 budget, will be extended to 2026 fiscal year. Resolution for withdrawal of circulars already issued for contracts award for the 2025 fiscal year by the executive, was jointly taken by National Assembly committees on Appropriations of both the Senate and the House of Representatives.
The joint resolution followed the one taken by the House of Representatives Committee on Appropriations on Wednesday during an interactive session with the Economic Team of the Federal Government.
The National Assembly’s resolution was revealed at a joint session of both the Senate and House Committees on Appropriations with the Economic Team on Thursday at the Senate.
Adeola said: “Capital Component of 2024 budget will continue till December 31st, 2025.
“Implementation of capital component of the 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.
