The National Assembly has approved an extension of the 2025 fiscal year until March 2026. Lawmakers said the move will give the federal government more time to finalise and pass the 2026 budget.
The decision came during plenary on Tuesday in Abuja as lawmakers raised concerns over delays in preparing the new budget proposal. Many legislators argued that the government must meet revenue targets and consult key stakeholders before submitting the 2026 appropriation bill.
“We need more time to ensure a realistic and effective budget,” a lawmaker said. “Rushing it will create more problems for the economy.”
Under the resolution, the 2025 fiscal year will now run through March. This will allow extra months for discussions between the executive and the legislature on revenue estimates, spending priorities, and projected deficits.
The extension follows months of back‑and‑forth between the Presidency and the National Assembly over revenue assumptions and policy direction. Lawmakers have repeatedly pushed for clearer figures on oil revenue, exchange rates, and projected economic growth.
The Senate President said the extension will help improve transparency and accountability in budget planning. “We want a budget that works for all Nigerians,” he said.
Analysts have warned that delays in budget approval can stall government projects and slow economic activities. They urged both arms of government to fast‑track the 2026 budget while ensuring thorough review and proper oversight.
The Nigerian economy faces several pressures, including inflation and foreign exchange challenges. Lawmakers said extending the fiscal year gives policymakers room to craft a more resilient and responsive budget.
