News Editor
By David Odama
National Assembly Thursday sought withdrawal of all circulars already issued for contracts awards in the 2025 fiscal year strongly indicating that the N23.9trillion capital component of the entire N54.99trillion 2025 budget will extend 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 Committees on Appropriations of both the Senate and the House of Representatives.
The joint resolution was sequel to the earlier one taken by the Appropriation Committee in the House of Representatives on Wednesday during interactive session with the economic team of the federal government.
Collective adoption of the resolution came to the fore at a joint session with the economic team on Thursday at the Senate wing of the National Assembly.
Reading the resolution at the joint session with the economic team , the Chairman of the Senate Committee on Appropriations, Senator Solomon Adeola (APC Ogun West) said: “Capital component of 2024 budget will continue till December 31st, 2025.
“Implementation of capital component of 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 .
“Circulars issued by the Ministry of Finance to the MDAs should be withdrawn pending issuance of AIE.”
Members of the economic team at the assessment of 2024, 2025 budget implementation session with the joint committee include the Minister of Finance, Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; the Accountant General of the Federation, Samsudeen Ogunjimi and the Director General of the Budget Office, Tanimu Yakubu .
The two parties later went into closed door session after adoption of the resolution without any contrary opinion from any member of the economic team.
