The Nigerian Senate has unanimously approved a further extension of the capital expenditure component of the 2024 federal budget, pushing the implementation deadline to December 31, 2025. This marks the second such extension, highlighting ongoing concerns over project completion timelines.
Deputy Senate President Barau Jibrin (Kano North) announced the resolution during Tuesday’s plenary. The amended appropriation bill, which was swiftly passed through its first, second, and third readings, received broad support among senators.
Senators debated the motion under the guidance of Senator Olamilekan Adeola (Ogun West), chairman of the Senate Appropriation Committee. Adeola emphasized that the extension is critical to enabling the Federal Government to complete vital infrastructure projects initially captured in the 2024 budget. He also pointed to fiscal limitations as justification for the extension.
“We must not allow these important national projects to be abandoned due to time constraints,” Adeola stated. “Extending the implementation period will ensure value for money and improved service delivery”
Second consecutive extension: The first deadline, December 31, 2024, was pushed to June 30, 2025, following President Tinubu’s request to accommodate incomplete projects and optimize allocations. As the June deadline approached, several critical projects remained unfinished, prompting the fresh amendment.
Two budgets in play: With this decision, Nigeria officially operates two federal budgets simultaneously, the extended 2024 budget and the newly enacted 2025 budget, already in effect.
