The Senate has, for the second time, extended the implementation of the capital component of the 2024 budget, this time until December 31, 2025.
The resolution was passed during Tuesday’s plenary session, following an amendment to the Appropriation Act seeking the extension.
Deputy Senate President, Barau Jibrin, who presided over the plenary, announced the extension after the bill underwent first, second, and third readings in quick succession.
The amended appropriation bill was considered by the Senate Committee on Supply.
Chairman of the Senate Committee on Appropriation, Senator Olamilekan Adeola, who led the debate during the session, said the extension was necessary to enable the federal government to complete ongoing projects captured in the 2024 budget.
Adeola, who represents Ogun West Senatorial District, noted that limited resources had constrained the government’s ability to fully implement the capital component within the original timeframe.
He urged his colleagues to support the extension to prevent the abandonment of critical federal projects across the country.
Originally, the capital expenditure portion of the 2024 budget was due to lapse on 31 December 2024, but was first extended to 30 June 2025, following a request by President Bola Tinubu.
At the time, the President argued that the extension was needed to complete ongoing capital projects and maximise the impact of budgetary allocations.
That request was approved after deliberations in both chambers of the National Assembly.
However, as the June 30 deadline neared, it became clear that many of the projects funded under the 2024 budget were still incomplete, prompting the need for a further extension.
With this latest development, Nigeria is now running two budgets concurrently: the 2024 budget, which remains under implementation, and the 2025 budget, which is already in effect.
While critics have argued that the repeated extensions reflect inefficiencies and weak execution capacities within Ministries, Departments, and Agencies (MDAs), proponents of the move say it ensures value for money and guarantees that critical infrastructure projects are completed rather than abandoned.
