The Senate on Thursday approved a fresh extension of the implementation period for the capital component of the 2025 Appropriation Act, pushing the deadline from June 30 to September 30, 2026. The move is aimed at preventing the abandonment of critical government projects nationwide, following a closed-door executive session and unanimous backing of a motion sponsored by Senate Chief Whip Tahir Monguno.
Monguno warned that billions of naira already released to Ministries, Departments and Agencies for capital projects remained unspent due to procurement bottlenecks, administrative delays, and implementation challenges, and cautioned that allowing the budget window to expire could stall strategic projects already nearing completion, waste public resources, and disrupt key government interventions. He argued that many projects require additional time for execution, certification, and payment, stressing that extending the budget would improve performance, ensure value for money, and support economic growth.
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Chairman of the Senate Committee on Appropriations, Solomon Olamilekan Adeola, explained that the extension applies strictly to the capital component of the budget, recalling that when President Bola Tinubu presented the 2025 budget, there was an expectation that 30 percent of implementation would be completed by March 31, 2026, with the remaining 70 percent rolled into the 2026 fiscal year. He noted that the target was not achieved.
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