For the second time, the Senate has extended the implementation of the capital component of the 2024 budget—this time to December 31, 2025.
The decision was made during Tuesday’s plenary session, after the amendment of the Appropriation Act was passed through its first, second, and third readings. Deputy Senate President Barau Jibrin, who presided over the session, announced the extension following its swift approval.
Senator Olamilekan Adeola, Chairman of the Senate Committee on Appropriations, led the debate in support of the extension. Representing Ogun West, Adeola explained that the federal government needs more time and resources to complete ongoing projects captured in the 2024 budget.
He warned that without the extension, many of these projects risk being abandoned, as the government lacks sufficient funds to start new ones while still completing existing ones.
Originally, the capital budget deadline was moved from December 31, 2024, to June 30, 2025, following a request by President Bola Tinubu. That extension was granted to allow the completion of capital projects and improve use of budgeted funds.
However, as the June deadline approached, many critical projects remained unfinished, prompting this latest extension.
With the new deadline now set for the end of 2025, Nigeria will be operating two active budgets in the same fiscal year: the still-active 2024 capital budget and the already approved 2025 budget.
While critics argue that repeated extensions highlight weak budget execution by government agencies, supporters believe the move ensures that essential infrastructure projects are completed and public funds are not wasted.