The Senate on Tuesday extended the implementation timeline of the capital component of the 2024 budget to December 31, 2025.
It did this during the plenary, following an appropriation bill requesting its amendment and extension.
Deputy Senate President Barau Jibrin announced the extension of the appropriation bill after it was read for the first, second and third times on the same day and supported by most of the senators.
The bill was also considered at the Senate Committee on Supply.
This is the second time the Senate is extending the capital implementation phase of the 2024 budget.
The earlier extension followed a request from President Bola Ahmed Tinubu, who in December 2024, wrote to the National Assembly seeking approval to shift the capital expenditure implementation deadline from 31 December 2024 to 30 June 2025.
The president’s justification at the time was to enable the executive arm to complete ongoing capital projects and optimise budgetary allocations.
The chairman of the Senate Committee on Appropriation, Olamilekan Adeola (APC, Ogun West), led the debate on the fresh extension of the budget at plenary yesterday.
Adeola explained that the extension was required to allow the federal government to complete ongoing projects captured in the budgets.
Adeola urged his colleagues to support the extension of the budget in order to avoid abandoned projects of the federal government in different parts of the country.
Also yesterday, the House of Representatives passed for second reading, a bill seeking to extend the implementation of the capital component of the 2024 approved budget from June 30 to December 31, 2025.
The bill which was presented to the House by the Deputy Majority Leader, Ibrahim Abdullahi Halims, was 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)’
Speaker Abbas Tajudeen said the extension of the budget was necessary because the implementation of the 2024 had not been substantially done.
The bill was passed for second reading after a voice vote and referred to the Committee on Supply for further legislative actions.
(Daily Trust)
