The Senate has approved yet another extension of the implementation of capital component of the 2025 budget from 30th September, 2026 to 31st December, 2026.
The Upper Chamber passed the bill, extending the 2025 budget capital component implementation to December after a clause-by-clause consideration.
The approval on Tuesday was sequel to a bill for an Act to Amend the 2025 Appropriation Act to further extend the capital components of the Act from 30th September, 2026 to 31st December, 2026 by the Senate Leader, Senator Opeyemi Bamidele, APC, Ekiti Central.
In his lead debate on the general principles of the bill, Bamidele who noted that the rationale for the amendment was both compelling and pragmatic, said that the execution of capital projects under the 2025 Appropriation Act had not reached optimal levels, despite the release of approximately of allocated funds to MDAs.
In his presentation, Bamidele said he is forwarding “A Bill for an Act to Amend the Appropriations (Repeal & Enactment) Act 2025 to Extend the Implementation of the Capital Aspect of the Appropriations (Repeal & Enactment) Act 2025 from 30th September, 2026 to 31st December, 2026 and for other Related Matters, 2026 (SB. 1067).
“A Bill for an Act to Amend the Appropriations (Repeal & Enactment) Act 2025 to Extend the Implementation of the Capital Aspect of the Appropriations (Repeal & Enactment) Act 2025 from 30th September, 2026 to 31st December, 2026 (SB. 1067).”