Nigeria’s Senate has approved a fresh extension of the capital component of the 2024 national budget, pushing the deadline for its implementation to 31 December 2025.
This marks the second extension of the budget’s lifespan, allowing the federal government more time to complete ongoing infrastructure and development projects.
The resolution was passed during Tuesday’s plenary session, with Deputy Senate President Barau Jibrin presiding. The decision followed the expeditious amendment and passage of the revised appropriation bill through its first, second, and third readings.
Speaking in support of the extension, Senator Olamilekan Adeola, who chairs the Senate Committee on Appropriation, said the move was necessary due to limited financial resources and the risk of leaving key projects unfinished.
“If we do not extend the timeline, we risk abandoning critical projects spread across the country,” he told lawmakers.
The original capital expenditure deadline of 31 December 2024 was first extended to 30 June 2025 earlier this year at the request of President Bola Tinubu. At the time, the President cited the need to allow ministries and agencies to complete projects and make full use of allocated funds.
However, as the June deadline approached, many key projects remained incomplete. Lawmakers now hope the new December 2025 extension will ensure full delivery and value for money.
The extension means Nigeria is currently operating two national budgets simultaneously, the 2024 budget, still in implementation, and the 2025 budget, already passed and active.