Senate Grants 6-month Extension For Capital Projects Under 2024 Budget

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

The decision was made during plenary on Tuesday, following the presentation and swift passage of a bill to amend the 2024 Appropriation Act.

The amendment bill, sponsored by Senator Solomon Adeola (APC, Ogun West), chairman of the Senate Committee on Appropriation, was passed through first, second, and third readings in a single sitting.

Deputy Senate President Barau Jibril announced the resolution after the Senate Committee on Supply adopted the report.

Adeola said the extension was necessary to allow the federal government to complete various ongoing capital projects that have been delayed due to revenue shortfalls and funding constraints.

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“We must not allow these important national projects to be abandoned due to time constraints,” Adeola said.

“Extending the implementation period will ensure value for money and improved service delivery.”

This marks the second time the 2024 capital budget implementation has been extended.

In December 2024, President Bola Tinubu requested and received approval to move the original deadline from December 31, 2024, to June 30, 2025.

That extension aimed to ensure the full utilisation of capital allocations and completion of key infrastructure projects.

With the June deadline approaching and many projects still incomplete, lawmakers have opted for an additional six months to avoid waste and stalled development.

The extension means Nigeria will continue operating two budgets simultaneously, the extended 2024 capital budget and the already active 2025 national budget.

While critics argue that repeated extensions reflect weak execution capacity within ministries, departments, and agencies (MDAs), proponents insist the move is pragmatic and ensures continuity in governance.