For the second time this year, the Senate has extended the implementation of the capital component of the 2024 budget to December 31, 2025.
The resolution was passed on Tuesday during plenary, following a swift amendment of the appropriation bill. Deputy Senate President Barau Jibrin, who presided over the session, announced the extension after the bill scaled its first, second, and third readings in one sitting.
Senator Olamilekan Adeola, Chairman of the Senate Committee on Appropriation, led the debate. He argued that the extension is necessary to allow the federal government complete key infrastructure projects initiated under the 2024 budget, citing funding constraints and the risk of project abandonment.
Initially, the capital component was set to expire on December 31, 2024, but was extended to June 30, 2025, at the request of President Bola Tinubu. The President justified that move as essential to fully utilise allocated funds and finalise ongoing projects.
However, with the June deadline looming and several projects still incomplete, lawmakers have now pushed the deadline further to the end of 2025.
This creates a rare overlap, with both the 2024 and 2025 budgets being implemented concurrently. While critics say the extensions highlight weak execution capacity within government agencies, supporters argue they ensure better value for money and prevent the abandonment of critical national projects.
