The National Assembly approves the extension of the 2024 budget implementation period to June 30, 2025, ensuring uninterrupted fiscal operations and smooth execution of ongoing government projects.
Senate President Godswill Akpabio announces the decision during the joint session convened for President Bola Ahmed Tinubu’s presentation of the 2025 budget proposal.
Senator Akpabio applauds President Tinubu for implementing transformative reforms aimed at boosting Nigeria’s economic and developmental progress. He highlights key legislative achievements, including the Tax Reform Bill and the Nigerian Revenue Service Establishment Bill 2024, as essential for achieving the administration’s vision of a modern and prosperous nation.
Akpabio urges Ministries, Departments, and Agencies (MDAs) to actively engage in the budget defence process, emphasizing the importance of timely submissions and full participation.
He warns that the National Assembly will enforce strict measures against MDAs that fail to appear for budget reviews or cause delays in the process.
- Extending the 2024 budget timeline ensures continuity in funding for critical projects while the 2025 budget undergoes legislative review.
- The move supports the government’s reform agenda by providing flexibility for implementing ongoing initiatives and addressing fiscal challenges.
- Analysts view this step as a practical approach to overcoming delays in project execution and ensuring economic stability.
This decision reflects the government’s dedication to driving sustainable growth and achieving its developmental priorities.
