The Senate has approved an extension of the implementation of the capital component of the 2024 national budget from June 30 to December 31.
The decision was reached during plenary, following the presentation and passage of an amendment bill to the Appropriation Act.
Sen. Solomon Adeola, Chairman of the Senate Committee on Appropriation, explained that the extension is necessary to allow ministries, departments, and agencies (MDAs) to fully utilize the funds released to them.
“There is a need for further extension for the funds to be fully and judiciously expended,” he said.
Adeola added that the extension is crucial to avoid compounding the problem of abandoned projects, particularly those nearing completion.
“This bill provides for the extension of the capital components of the 2024 Appropriation Act from June 30, 2025, to December 31, 2025,” he said.
Some senators expressed concerns about the implementation of the budget, with Sen. Yahaya Abdullahi (APC-Kebbi) suggesting that the National Assembly leadership should meet with the President to discuss the issue.
“We need to know what is really happening,” he said.
The Senate has expressed confidence in the Appropriation Committee, with Deputy Senate President Jibrin Barau praising President Tinubu’s commitment to. national development.
“Mr. President is somebody who listens, somebody who has the passion to see that we develop our country,” Barau said.
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