The Senate has again extended the implementation timeline of the capital component of the 2024 federal budget till 31 December 2025.
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The upper chamber made the resolution during the plenary on Tuesday following an appropriation bill requesting its amendment and extension.
The Deputy Senate President, Barau Jibrin, announced the extension of the appropriation bill after it was read for the first, second and third times on the same day and supported by most of the senators.
The bill was also considered at the Senate Committee on Supply.
The Chairman of the Senate Committee on Appropriation, Olamilekan Adeola (APC, Ogun West), led the debate on the extension of the budget.
Mr Adeola explained that the extension was required to allow the federal government to complete ongoing projects captured in the budgets.
He also said the Nigerian government does not have enough resources to capture the expenditures proposed in the budget.
Mr Adeola, therefore, urged his colleagues to support the extension of the budget in order to avoid abandoned projects of the federal government in different parts of the country.
This is the second time the Senate is extending the capital implementation phase of the 2024 budget.
The initial extension followed a request from President Bola Tinubu, who in December 2024, wrote to the National Assembly seeking approval to shift the capital expenditure implementation deadline from 31 December 2024 to 30 June 2025.
The president’s justification at the time was to enable the executive arm to complete ongoing capital projects and optimise budgetary allocations.
That extension was granted after extensive debate and consideration by both chambers of the National Assembly.
However, as the 30 June 2025 deadline approached, it became evident that several critical projects funded under the 2024 budget had not been completed, prompting the fresh extension.
With the new deadline of 31 December 2025, Nigeria is now operating two budgets within a single fiscal year – the 2024 budget, which is still being implemented and the 2025 budget, which has already passed and is currently in force.
When the 2024 budget was first extended, some critics argued that it would reflect weak execution capacity within government Ministries, Departments, and Agencies (MDAs). However, supporters of the move said it would ensure value for money and completion of critical infrastructure projects that otherwise would have been abandoned.
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