The Nigerian Senate has approved a second extension of the implementation period for the 2024 capital component of the national budget, shifting the deadline from June 30, 2025, to December 31, 2025.
This move aims to allow for the full execution of capital projects funded under the 2024 Appropriation Act.
The resolution was reached during plenary on Tuesday after the presentation and swift passage of a bill to amend the Appropriation Act.
Sponsored by Solomon Adeola, senator representing Ogun West and chairman of the Senate Committee on Appropriations, the bill was passed through first, second, and third readings in one sitting after the red chamber suspended its rules.
Adeola said the extension was necessary to allow the federal government to complete several ongoing capital projects captured under the 2024 budget.
“We must not allow these important national projects to be abandoned due to time constraints,” Adeola said.
“Extending the implementation period will ensure value for money and improved service delivery.”
Second extension in one year
In December 2024, the National Assembly granted an initial extension from the original deadline of December 31, 2024, to June 30, 2025, following a request by President Bola Tinubu.
The announcement was made by the President of the Senate, Godswill Akpabio, during the joint sitting of the National Assembly for the presentation of the 2025 budget proposal by President Tinubu.
The Senate President urged Ministries, Departments, and Agencies (MDAs) to prioritize their roles in the budget defence process, emphasizing the need for timely submissions and active participation.
He warned that the National Assembly would take decisive action against MDAs that fail to appear for budget defence sessions or cause unnecessary delays.
That extension, lawmakers said, was intended to optimise capital expenditure and enable the completion of infrastructure projects.
But with only days left to the June deadline and many projects still uncompleted, the Senate opted for an additional six months.
What you should know
The January-to-December budget implementation cycle, a hallmark of fiscal discipline, was established during the tenure of the 9th National Assembly.
- Before this reform, budget presentations by former Presidents Olusegun Obasanjo, Umaru Musa Yar’Adua, and Goodluck Jonathan occurred sporadically, with no fixed timeframe, between 2000 and 2015.
- However, on December 18, 2024, the National Assembly approved an extension of the 2024 budget’s lifespan to June 2025. This decision was necessitated by unforeseen delays stemming from the legislative focus on key reforms, including the passage of President Tinubu’s tax reform bills.
