Video: Tinubu vows to end three budgets chaos, targets single cycle by April 2026

Abdullateef Fowewe

President Bola Tinubu has announced sweeping fiscal reforms today, vowing to dismantle Nigeria’s longstanding practice of juggling multiple overlapping budgets amid inherited debts and abandoned projects.

Video: Tinubu vows to end three budgets chaos, targets single cycle by April 2026

Describing the move as “a reset, a very hard one,” Tinubu highlighted the national crisis fueled by “avoiding abandoned projects, unpaid contractual obligations, and running multiple budgets, both inherited and of fulfilled mandates.”

He declared an immediate end to “the habit of running three budgets,” calling it a problem “stirring the nation.”

By March 31, 2026, the administration pledges to fully fund and close all capital liabilities from previous years.

Starting April, Nigeria will shift to “a single budget backed by its single revenue cycle. No overlaps, no excuses, no rollovers culture.”

“This budget presents a defining moment in our national journey of reform and transformation,” Tinubu emphasised in his address.

The president reiterated his commitment in a direct quote saying, “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 will operate on a single budget.”

Reacting, an economist, Muiz Abiodun who spoke to Dailyeconomy hailed the plan as a potential game-changer for fiscal discipline, though implementation challenges loom large given Nigeria’s revenue constraints.