Senate extends 2025 budget implementation to June 30

By Henry Umoru

THE Senate has approved yet another extension of the implementation of capital component of the 2025 budget from March 31 to June 30.

The Upper Chamber passed the bill, extending the 2025 budget capital component implementation to June 30 after a clause-by-clause consideration.

The approval yesterday was sequel to a bill for an Act to Amend the 2025 Appropriation Act to further extend the capital components of the Act from March 31 to June 30, 2026 by the Senate Leader, Senator Opeyemi Bamidele, APC, Ekiti Central

In his lead debate on the general principles of the bill, Bamidele who noted that the rationale for the amendment was both compelling and pragmatic, said that the execution of capital projects under the 2025 Appropriation Act had not reached optimal levels, despite the release of approximately 30 per cent of allocated funds to MDAs.

The leader said, “This situation, if not urgently addressed, risks exacerbating the already troubling incidents of abandoned or partially executed projects across the country.”

Bamidele, who said that it was instructive to note that significant proportion of the projects had ongoing relevance, saying only about 70 per cent have been provided for, under the 2026 appropriation framework, stressed that without the extension, the president’s several critical national infrastructure and development initiatives may suffer avoidable discontinuity.

According to him, the bill was therefore designed to ensure continuity, enhance budget performance, and promote efficient utilisation of already released funds.

Bamidele said, “It is also aimed at strengthening fiscal discipline and safeguarding public resources from waste.

“Furthermore, this extension will contribute meaningfully to economic reflation by sustaining capital expenditure flows, conserving jobs and supporting ongoing development efforts across key sectors of the economy.”

He said it was imperative to provide MDAs with the necessary legal window to fully implement their projects in the overriding public interest, just as he urged his colleagues to give the bill expeditious and favourable consideration.

In his remarks, the Deputy President of Senate, Sen.Barau Jibrin, APC, Kano North who explained that President Tinubu was determined to bring about enhanced, quick infrastructural development, said, “It is in tandem with the ‘Renewed Hope Agenda’ of Mr. President to bring about prosperity to our nation.

“And this cannot be done without building the critical infrastructure needed to bring about this vision to fruition.

“And it is this regard that is very important, that time should be given so that the projects that have been started, that are ongoing, be concluded.

“Otherwise, we will go into the problem of abandoned projects, which is inimical to our progress.

“It is very necessary. It is known to all that if we don’t do this, it will create a problem to the desire of Mr President to bring about the infrastructure development needed to bring prosperity to our nation.”

He urged lawmakers to give expeditious passage to the bill.

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