Senate

The Nigerian Senate has granted a six-month extension for the implementation of the capital component of the 2024 national budget, shifting the deadline from June 30 to December 31, 2025.

The decision, taken during today’s plenary session, followed the presentation and accelerated passage of a bill to amend the 2024 Appropriation Act. The bill, sponsored by the Chairman of the Senate Committee on Appropriations, Senator Solomon Adeola (APC, Ogun West), passed through first, second, and third readings without objection.

Deputy Senate President Jibrin Barau, who presided over the session, announced the extension following the adoption of the committee’s report.

Explaining the rationale behind the amendment, Senator Adeola said the extension was crucial to enable the federal government to complete a range of ongoing capital projects, many of which have suffered delays due to funding challenges.

“We must not allow these important national projects to be abandoned due to time constraints,” he said. “Extending the implementation period will ensure value for money and improved service delivery.”

This marks the second extension of the 2024 capital budget. In December 2024, President Bola Tinubu secured National Assembly approval to move the original deadline from December 31, 2024, to June 30, 2025.

Despite that initial extension, many capital projects remain uncompleted. Lawmakers argued that further delay in implementation could result in wasted resources and stalled development, hence the need for another six-month window.

The move means Nigeria will now run two budgets concurrently — the extended capital component of the 2024 budget and the already operational 2025 national budget.

While some critics view the repeated extensions as a sign of weak budget execution by ministries, departments, and agencies (MDAs), others describe the step as a practical solution that ensures continuity in infrastructure development and public service delivery.