The Senate on Wednesday deliberated on a bill to repeal and re-enact the 2024/2025 Appropriations Act, proposing a revised budget of ₦43.56 trillion.

President Tinubu had earlier transmitted the Appropriation (Repeal and Re-enactment) Bill 2024 to the National Assembly for consideration.

The bill was passed for second reading during the plenary session.

Under the proposed expenditure framework, ₦1.74 trillion is allocated for statutory transfers.

The bill also earmarks ₦8.27 trillion for debt servicing, while recurrent non-debt expenditure is set at ₦11.27 trillion.

Capital expenditure and development fund contributions are estimated at ₦22.28 trillion.

The Senate said it has directed the Minister of Finance, Wale Edun; and the Minister of Budget and Economic Planning,
Atiku Bagudu; and the chairman of the Federal Inland Revenue Service,
Zacch Adedeji, to appear before the Senate Committee on Appropriations.

The officials are expected to provide further clarification on the proposed expenditure plan.

Leading the debate, Opeyemi Bamidele, senate leader, said the amendment was “not merely procedural; it is structural and reform-driven.”

Bamidele said the bill seeks “to repeal and re-enact the existing Appropriation framework to end the unhealthy practice of running multiple budget cycles concurrently.”

He noted that the practice has historically undermined budget clarity, weakened fiscal discipline, and blurred accountability across ministries, departments, and agencies.

The senate leader said the bill would provide a lawful mechanism to consolidate and appropriate expenditures that are “critical, time-sensitive and unavoidable.”

He described the proposal as a balance between responsiveness and responsibility.

Bamidele added that the amendment would ensure urgent public spending does not erode legislative oversight or fiscal prudence, while strengthening fiscal discipline, accountability and prudent public financial management.