SENATE APPROVES SECOND EXTENSION OF 2024 CAPITAL BUDGET IMPLEMENTATION

In a move aimed at preventing the abandonment of critical infrastructure projects, the Nigerian Senate has approved a second extension of the implementation period for the capital component of the 2024 Appropriation Act. The new deadline is now December 31, 2025—six months beyond the previously adjusted date of June 30, 2025.
The decision was reached on Tuesday, June 24, during a special plenary session where lawmakers fast-tracked the passage of a bill to amend the 2024 Appropriation Act. The legislation was sponsored by Senator Solomon Adeola, Chairman of the Senate Committee on Appropriation and representative of Ogun West. In a rare show of legislative urgency, the bill was passed through first, second, and third readings in one sitting after the red chamber suspended its standard rules.
Senator Adeola defended the amendment, stressing the importance of ensuring that the billions of naira allocated for capital projects are not wasted. “We must not allow these important national projects to be abandoned due to time constraints,” he said. “Extending the implementation period will ensure value for money and improved service delivery.”
This marks the second such extension since President Bola Tinubu, in December 2024, requested a shift of the original capital spending deadline from December 31, 2024, to June 30, 2025. That first extension was framed as necessary to optimise capital expenditure and allow ministries and agencies more time to complete infrastructure-related activities. However, with that deadline now looming and many major projects still underway, the Senate has endorsed a further extension to allow continued work without bureaucratic or legal hindrances.