President Bola Tinubu has announced that Nigeria will adopt a single annual budget cycle beginning in April 2026.

He made the declaration on Friday while presenting the 2026 Appropriation Bill to a joint session of the National Assembly.

The shift is intended to eliminate overlapping budgets, which have hindered planning, delayed implementation, and weakened accountability.

He noted that overlapping budgets have disrupted planning, delayed capital releases, and undermined transparency across government ministries, departments, and agencies.

“We are terminating the habit of running three budgets in one inflow. By March 31, 2026, all capital liabilities from previous years will be fully funded and closed. From April, Nigeria operates on a single budget, backed by a single revenue cycle. No overlaps, no excuses, no rollovers culture,” he said.

Tinubu stated that the move is part of a wider fiscal reform agenda aimed at resetting Nigeria’s budget calendar and improving public financial management.

He explained that extending the cycle to March 31, 2026, would provide time to settle outstanding capital obligations.

Once these liabilities are cleared, he said, Nigeria will be able to transition fully to a streamlined, single-cycle budget system.

The President said the reform complements ongoing measures, including budget revisions, adjustments to capital targets, and enhanced revenue mobilisation.

Earlier, he requested the House of Representatives to repeal and re-enact the 2024 and 2025 budgets, while extending the 2025 budget to March 31, 2026.

In his letter, Tinubu explained that the bills propose repealing the 2024 Appropriation Act of N35.06 trillion and re-enacting it with a revised total expenditure of N43.56 trillion.