Nigerian National Assembly Realigns N91tn in Funding, Extends 2025 Budget to March 2026

The Nigerian National Assembly has approved a significant financial reset by realigning N91 trillion in funding and extending the 2025 budget to March 2026. This move aims to stabilize Nigeria's economy and ensure that government spending aligns with current revenue realities.

The overhaul involves repealing and restructuring the 2024 appropriation act and adjusting the 2025 budget framework to accommodate new economic data. The Chairman of the Senate Committee on Appropriation, Solomon Adeola, emphasized the importance of fiscal prudence and transparency in government spending.

The extension of the budget year is intended to address inefficiencies and promote fiscal discipline.