The Federal Government of Nigeria has announced plans to extend the capital component of the 2024 Appropriation Act beyond its current expiration date of June 30, 2025. This extension is aimed at ensuring the complete implementation of capital projects across the country.
Senate Leader Opeyemi Bamidele made the disclosure, emphasizing the National Assembly’s commitment to assessing the performance of the budget and taking all necessary legislative steps to facilitate the smooth execution of ongoing projects. The move is in line with the ongoing preparations for the 2025 Appropriation Bill.
It will be recalled that the timeline for capital expenditure was initially extended on December 18, 2024, shifting the original deadline from December 31, 2024, to June 30, 2025. During the 2025 budget presentation, Senate President Godswill Akpabio noted that the 2024 budget had reached 50% implementation for capital expenditure and 48% for recurrent expenditure.
Senator Akpabio also confirmed that a new enabling law to authorize this latest extension would soon be transmitted to the President for executive assent.
This development underscores the Federal Legislature’s commitment to infrastructure growth and national development, ensuring that critical projects are not constrained by strict timelines. It reflects a pragmatic approach to budget execution and a determination to achieve the full impact of capital investments.
Clarification on Hon. Abiola Makinde’s Position
The extension also brings clarity to recent criticisms directed at Hon. Abiola Makinde by the Ekimogun Roundtable, which had accused him of failing to implement aspects of the 2024 budget earmarked for the Ondo Federal Constituency.
Given the confirmed nationwide delay in capital project implementation, it is now evident that such accusations were premature and unfounded. Like all other constituencies, the Ondo Federal Constituency remains within the scope of ongoing budget execution, which has not yet reached full completion.
Outlook for the 2025 Budget
With the 2024 capital vote now running into the second half of 2025, the implementation of the 2025 Appropriation Act is expected to commence in full only after the current budget cycle concludes. This phased approach promotes continuity, prevents overlap in funding, and enhances efficient resource utilization.
The Federal Government and the National Assembly remain committed to accountability, transparency, and delivering on the goals of sustainable development across every region of Nigeria.