The Senate has again extended the N13.1 trillion 2024 national budget capital component implementation deadlines from June 30 to December 31st.
The move is the second extension within the year, which by implication means Nigeria runs two parallel budget cycles.
The extension which was sequel to the passage of a bill titled “A Bill to Amend the 2024 Appropriation Act to Further Extend the Capital Components…” (SB.
854) and sponsored by Sen. Olamilekan Adeola (APC, Ogun West), Chairman of the Senate Appropriations Committee, scaled first, second, and third readings yesterday during plenary after Senate Leader Opeyemi Bamidele, invoked Rule 78(1) to suspend standard procedures.
The motion was however seconded by Senate Minority Leader Abba Moro (PDP, Benue South).
The Senate also mandated its Committees on Appropriations and Finance to investigate the persistent delays in capital fund releases and overall budget performance, with a report due within one week.
Deputy Senate President Jibrin Barau, who presided, announced the resolution after the adoption of the Senate Committee on Supply’s report.
The extension, formally requested by President Bola Tinubu, is intended to allow full execution of capital projects that have suffered from delayed funding and implementation.
Senator Adeola, while leading debate on the bill, recalled that the capital implementation was first extended on December 18, 2024, from the original June 2024 deadline to June 30, 2025.
“Given the critical importance of many near-completion projects, this extension is necessary to avoid abandonment,” Adeola stated.
“It will ensure that funds already released are judiciously utilized and national projects are completed.
”Despite these efforts, several senators expressed frustration and disappointment at the repeated extensions, citing concerns over fiscal discipline, transparency, and budget credibility.Senator Yahaya Abdullahi (APC, Kebbi North) decried the repeated extensions as a dangerous precedent.
“This is the first time in our history that an appropriation bill is being extended twice in one cycle. The credibility of this government is getting down.
“The country is financially bleeding, and the 2025 budget has not even started,” he warned.
He called on the National Assembly leadership to meet with President Tinubu for a frank discussion on the state of budget implementation.
Sen. Seriake Dickson (PDP, Bayelsa West), a member of the Appropriations Committee, criticized the government’s focus on political activities at the expense of service delivery.
“There is too much preoccupation with politics and 2027 — too much concentration on receiving defectors.
“While the recurrent budget that benefits civil servants have been fully released, capital projects that impact Nigerians directly remain underfunded or stalled”, he said.
Sen. Abdul Ningi (PDP, Bauchi Central) demanded clarity on revenue availability, asking whether the extension was due to actual revenue shortfalls.
Senate Minority Leader, Abba Moro, while reluctantly supporting the bill, warned of the growing mistrust among contractors and the private sector.
“Even those willing to commit to projects are now unwilling due to fears they won’t be paid,” he noted, calling for more transparency from the Ministry of Finance and a reformed payment process.
”This latest extension underscores Nigeria’s enduring structural weaknesses in public finance management, including: Delayed fund releases, Weak procurement systems, Overstretched capital commitments, Lack of fiscal coordination”, he said.
