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Delay or Strategy? Senate Extends 2024 Capital Budget to December Next Year
The Senate on Tuesday granted an additional extension for the implementation of the 2024 budget’s capital component, shifting the deadline from June 30 to December 31, 2025.....KINDLY READ THE FULL STORY HERE▶
The Senate approved the extension following its consideration and passage of an Appropriation Amendment Bill during Tuesday’s plenary session.
The bill—sponsored by Senator Solomon Adeola, Chairman of the Senate Committee on Appropriations—was fast-tracked, receiving its first, second, and third readings in one sitting and garnering overwhelming support from senators. It was later adopted at the Committee of Supply.
Deputy Senate President Barau Jibrin, who presided over the session, announced the new deadline, making it the second time the Senate has extended the capital implementation phase of the 2024 budget.
In his lead debate, Senator Adeola argued that the extension was essential for the federal government to complete key ongoing projects, given current funding constraints. He urged his colleagues to back the bill to avoid abandoning critical infrastructure across the country.
The first extension came in December 2024, after President Bola Ahmed Tinubu formally requested a shift from the initial December 31, 2024 deadline to June 30, 2025, to ensure optimal use of funds and the completion of ongoing capital projects. That request was granted after thorough deliberation by both chambers of the National Assembly.
However, with the June deadline nearing and many projects still incomplete, lawmakers deemed it necessary to push the timeline further to December 31, 2025.
As it stands, Nigeria now operates under two overlapping budgets—the extended 2024 appropriation and the already approved 2025 fiscal plan.
While critics argue that these repeated extensions point to inefficiencies in budget execution by Ministries, Departments, and Agencies (MDAs), supporters see the move as a practical step to maintain continuity and finish key national projects.
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