By Agency Report
The Senate has approved another extension of the implementation of the capital component of the 2025 budget from March 31 to June 30.
This followed the presentation of a Bill for an Act to Amend the 2025 Appropriation Act to further extend the capital component of the Act from March 31 to June 30.
The bill was sponsored by Senate Leader, Opeyemi Bamidele (APC-Ekiti), at plenary on Tuesday.
Bamidele, while leading debate on the general principles of the bill, said the rationale for the amendment was both compelling and pragmatic.
He said that the execution of capital projects under the 2025 Appropriation Act had not reached an optimal level, despite the release of approximately 30 per cent of allocated funds to ministries departments and agencies (MDAs).
“This situation, if not urgently addressed, risks exacerbating the already troubling incidents of abandoned or partially executed projects across the country,” Bamidele said.
He said it was instructive to note that a significant proportion of the projects had relevance, saying only about 70 per cent had been provided for under the 2026 appropriation framework.
He said that without the extension, the president’s several critical national infrastructure and development initiatives might suffer avoidable discontinuity.
The lawmaker said that the bill was designed to ensure continuity, enhance budget performance and promote efficient utilisation of already released funds.
“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.
The senator said it was imperative to provide MDAs with the necessary legal window to fully implement their projects in the overriding public interest.
He urged the lawmakers to give the bill expeditious and favourable consideration.
Deputy Senate President, Barau Jibrin (APC-Kano), while seconding the motion for approval of the bill, said President Bola Tinubu was determined to bring about enhanced and quick infrastructural development to the country.
“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.
“It is this regard that it is very important that time should be given so that the projects that have been started, that are ongoing, can 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 said.
Barau urged his colleagues to give expeditious passage to the bill.
The News Agency of Nigeria (NAN) reports that the Senate, thereafter, passed the bill, extending the 2025 budget capital component implementation to June 30 after a clause-by-clause consideration.
NAN
