Senate expands the implementation of the 2024 budget to December 31

Senate on Tuesday approved a new extension of the implementation of the 2024 National Budget Capital Component to 31 December.

The legislative room over the end of last year approved an extension of the budget implementation until 30 June.

Tuesday’s decision to attend the presentation and ratification of a rapid amendment bill for appropriation laws.

Senate Vice President, Jibrin Barau, announced the resolution, after adopting a report by the Senate Committee on supply.

The debate was led by the Chairperson of the Senate Committee on Allocation, Solomon Adeola.

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In his presentation, Adeola remembered that the 2024 APROPRISI Law was extended on December 18, 2024, until 30 June 2025.

He said: “Therefore, the need for this new extension is to enable the full implementation of the budget to enable ministries, departments and institutions (MDA) to effectively utilize most of the funds released to them.

“There is a need for further extension so that funds are fully spent and wise.”

Adeola said that, given the importance of some of the main projects that were almost completed, the extension of the expiration clause had become wise to avoid the combined problems of the project left behind.

“Therefore, this bill regulates the extension of the capital component of the 2024 appropriation from 30 June 2025, until December 31, 2025,” he added.