The Senate on Tuesday approved a second extension for the implementation of the 2024 budget’s capital component, shifting the deadline from June 30 to December 31, 2025. This move, aimed at enabling the federal government to complete ongoing infrastructure projects, followed the swift passage of an amended appropriation bill during plenary..
Deputy Senate President Barau Jibrin announced the bill’s passage, while Senator Olamilekan Adeola, Chairman of the Appropriations Committee, explained the extension was necessary due to limited financial resources. Adeola noted that without additional time, many capital projects risked abandonment.
Initially slated to expire on December 31, 2024, the capital component was first extended to mid-2025 upon President Tinubu’s request. The new extension means the country will concurrently operate both the 2024 and 2025 budgets, raising concerns about project monitoring and financial accountability.….KINDLY READ THE FULL STORY HERE▶▶
