- Safiu Kehinde
President Bola Tinubu has declared the termination of Nigeria’s habit of multiple budget operation.
Tinubu made the declaration during his 2026 budget presentation before the joint National Assembly session on Friday.
The President cited the annual operation on multiple budgets, abandoned projects, and unpaid contractors’ obligations as cogwheels hindering the progress of Nigeria.
“This is a reset, a very hard one. Avoiding abandoned projects, unpaid contractors’ obligations, and running a multiple budget, both inherited and unfulfilled mandate, are problems steering the nation.
“So, we are terminating the habit of running three budgets on one inflow.” Tinubu said.
The President declared the full funding and closure of all previous years’ capital liabilities by March 31st, 2026.
He also declared the commencement of a single budget operation which will take effect from April.
“By March 31st, 2026, all capital liabilities from previous years will be fully funded and closed. From April, Nigeria will operate on a single budget backed by a single revenue cycle.
“No overlaps, no excuses. This budget presents a defining moment in our national journey of reform and transformation.” The President said.