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The Digest:

President Bola Tinubu will present the 2026 Appropriation Bill to a joint session of the National Assembly on Friday, even as he simultaneously seeks to repeal and reenact the 2024 budget. The dual moves aim to establish a single, transparent fiscal year while addressing the long-standing issue of overlapping budgets that has plagued public finance management.

Key Points:
  • The 2026 budget presentation is scheduled for 2:00 PM on Friday at the National Assembly.
  • The 2026 budget is projected at ₦54.4 trillion based on the approved MTEF/FSP.
  • Concurrently, Tinubu seeks to reenact the 2024 budget, totaling ₦43.56 trillion.
  • The 2024 reenactment aims to end the practice of running multiple budgets.
  • It proposes ₦22.28 trillion for capital expenditure and development funds.
  • The bill has passed first and second reading in the House of Representatives.
  • Economist Dr. Muda Yusuf calls for holistic reform to end chronic budget rollovers and weak implementation.
In navigating the nation's finances, the administration attempts to reconcile past commitments with future plans, seeking to close one fiscal chapter cleanly before fully opening the next.

Sources: Daily Trust, Tribune Nigeria