The Senate has once again extended the lifespan of the 2024 Appropriation Act, pushing the deadline for capital expenditure to December 31, 2025, a move aimed at preventing the abandonment of ongoing federal projects across the country.
This marks the second extension of the budget’s capital component. The first came late last year following President Bola Tinubu’s request to shift the deadline from December 31, 2024, to June 30, 2025, to ensure smoother implementation and continuity of projects.
Presiding over Tuesday’s plenary session, Deputy Senate President, Senator Barau Jibrin, announced the passage of the bill after it scaled through the first, second, and third readings in a single sitting.
Leading the debate, Senator Adeola Olamilekan, Chairman of the Senate Committee on Appropriations, said the extension was necessary due to limited fiscal space and the sheer number of incomplete infrastructure projects across the country.
“Without this extension, we risk abandoning critical infrastructure initiatives across the country,” he stated.
Senator Olamilekan stressed that the government lacked the funds to execute all capital projects initially earmarked in the 2024 budget, prompting the need for additional time to mobilise and allocate resources effectively.
However, not all lawmakers were satisfied with the move. Some criticised what they described as the government’s failure to release funds for capital projects despite savings from fuel subsidy removal and new tax measures, which were expected to create fiscal room for increased spending at the federal and state levels.
There were also calls for an investigation into the apparent non-release or diversion of funds meant for critical infrastructure and social welfare programmes.
The Senate eventually passed the bill titled:
“A Bill for an Act to Amend the 2024 Appropriation Act to Further Extend the Capital Component of the Act from the 30th of June, 2025 to 31st December 2025.”
The extension is seen as a measure to salvage ongoing projects, but it also raises questions about the government’s project delivery efficiency.
