The Senate has once again approved an extension for the capital expenditure segment of the 2024 national budget, pushing its implementation deadline to December 31, 2025.
This decision was reached during Tuesday’s plenary session, after the Senate adopted amendments to the existing appropriation act. The motion was swiftly passed through its first, second, and third readings under the leadership of Deputy Senate President Barau Jibrin, who presided over the proceedings.
The extension followed the presentation and debate led by Senator Olamilekan Adeola, Chairman of the Senate Committee on Appropriation, who emphasized the need for more time to allow the government to complete several capital projects listed in the budget.
Senator Adeola, who represents Ogun West, argued that the federal government lacks adequate funds to accommodate all the proposed expenditures, necessitating this extension to avoid the abandonment of key projects nationwide.
This marks the second time the capital aspect of the 2024 budget has been extended. It was initially shifted from December 31, 2024 to June 30, 2025, following a request by President Bola Tinubu. The President had then cited the need for the executive branch to wrap up ongoing infrastructure projects and make efficient use of budgetary allocations.
With the June deadline fast approaching and many vital projects still incomplete, the Senate opted for a fresh extension to give implementing agencies more time to deliver.
This development means that Nigeria is now running two active budgets simultaneously—the extended 2024 budget and the fully enacted 2025 budget.
While some critics argue that these repeated extensions highlight inefficiencies in government agencies’ budget execution, supporters maintain that it ensures better value for public funds and prevents critical infrastructure from being left unfinished.
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