In order to move the deadline for implementing the capital component of the 2024 national budget from June 30 to December 31, 2025, the Nigerian Senate has approved a six-month delay.
The Senate examined and adopted a bill to amend the 2024 Appropriations Act, and the resolution was passed during plenary on Tuesday. The amendment bill, which was supported by Senator Solomon Adeola (APC, Ogun West), the chairman of the Senate Committee on Appropriations, was expedited and passed all legislative readings in a single session.
Jibrin Barau, the deputy president of the Senate, announced the decision, saying the extension will enable the federal government to finish important capital projects that have been hampered by funding delays and income shortages.
If the implementation period is not extended, Senator Adeola clarified, a number of infrastructure projects could be shelved.
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“We cannot permit the postponement of these significant national initiatives because of time concerns. “It will guarantee better service delivery and value for money if the implementation period is extended,” he stated.
The execution of the 2024 capital budget has been extended twice. On President Bola Tinubu’s request, the first extension was granted in December 2024, moving the original deadline from December 31, 2024, to June 30, 2025.
In order to preserve project momentum and avoid wasting public cash, lawmakers decided to grant another extension for a number of important projects that are still unfinished and have a June deadline.
Nigeria’s existing 2025 national budget and the expanded 2024 capital budget will now run concurrently thanks to the most recent extension.
Some opponents contend that Ministries, Departments, and Agencies (MDAs) are exhibiting poor project execution by repeatedly extending projects, while others see this as a workable option to guarantee the completion of critical infrastructure and governance continuity.
