Senate President Godswill Akpabio has announced plans to extend the implementation period of Nigeria’s 2024 budget to June 30, 2025, ensuring the full execution of its capital projects. He made the announcement on Wednesday during a joint session of the National Assembly.
Akpabio explained that the extension is a strategic decision aimed at consolidating the budget’s achievements and sustaining ongoing development initiatives. According to him, the legislative framework for the extension has already been enacted by the National Assembly.
“Given these great achievements, we have deemed it necessary to extend the life of the 2024 budget to June 30, 2025. The enabling law for this extension has already been put in place by this patriotic Assembly, as a testament to our appreciation for the great performance of the budget, ensuring we build upon your momentum,” Akpabio stated.
The decision highlights the government’s focus on addressing delays in budget implementation, particularly in critical capital projects. Analysts have noted that extending the budget’s validity could drive economic growth by ensuring consistent funding for infrastructure, health, and education projects.
The announcement has sparked discussions on the need for improved fiscal discipline and adherence to budget timelines in Nigeria. Stakeholders hope this extension will lead to tangible progress in project execution and long-term benefits for the nation.
