The National Assembly has approved another extension for the capital component of the 2024 annual budget, now set to end on December 31st, 2025. This is the second extension of the budget. On Tuesday, both legislative chambers agreed to extend the budget implementation after passing an appropriation bill. During the Senate plenary session, which was
The National Assembly has approved another extension for the capital component of the 2024 annual budget, now set to end on December 31st, 2025. This is the second extension of the budget.
On Tuesday, both legislative chambers agreed to extend the budget implementation after passing an appropriation bill.
During the Senate plenary session, which was presided over by the Deputy Senate President, Barau Jibrin, the extension was announced after the debate for the extension had been anchored in by the Chair of the Senate Committee on Appropriation, Senator Olamilekan Adeola, before the lawmakers.
In his submission, the Senator representing Ogun West senatorial district convinced his colleagues to support the proposal that the extension was necessary to avoid incompleteness of projects that have been captured under the 2024 budget.
The motion for extension was met with both support and scepticism among lawmakers. Advocates argued that additional time would enable government ministries and agencies to complete ongoing capital projects, thereby preventing wasteful expenditure and stalled infrastructure.
Detractors, however, voiced concerns about the pattern of repeated extensions, warning that it could encourage laxity in budget execution and undermine fiscal discipline. Despite the contentious debate, the consensus was that the extension was a pragmatic solution to the persistent delays in project implementation that have hampered progress throughout the year.
He further convinced them that the extension of the implementation timeline of the budget would ensure value for money, improved service delivery and avoidance of abandoned projects due to time constraints.
The bill passed after three readings in one day, supported by a majority of senators through a voice vote.
Opposition senators criticised the executive for poorly executing the budget and focusing on politics instead of governing the country.
Despite the expression of frustration, the bill was passed on for approval.
Similarly, the House of Representatives passed a bill to extend last year’s budget capital component implementation from June to December.
Titled “A Bill for an Act to Amend the 2024 Appropriation Act to Further Extend the Capital Components of the Act From 30th June 2025 to 31st December 2025 and for Related Matters (HB.2404),” it was presented before the Representatives by the Deputy Majority Leader, Ibrahim Halim’s, during Tuesday’s plenary session presided over by the Speaker of the House, Honourable Tajudeen Abass.
The Speaker explained that the extension was necessary to complete the ongoing projects. As a result, the bill was passed through voice vote.
This is the second time the capital implementation of the 2024 budget has been extended by the Nigerian lawmakers. Last year, the Senate and the House of Representatives, following a letter of request from President Bola Tinubu, approved the shifting of the deadline of the budget from December 31st, 2024, to June 2025. Due to the inability of the executive to complete the implementation of the budgetary allocation in June 2025, which is fast running out, the extension was necessitated.
Consequently, this implies that the country is running on two budgets simultaneously, given that the 2025 budget is also active while the 2024 budget has been shifted to the end of the year.
This development has attracted criticism from some of the lawmakers who questioned the executive’s ability to execute projects completely without exceeding budgets.
