•Godswill Akpabio
The National Assembly has extended the implementation of the 2024 Budget by six months, Senate President Godswill Akpabio said today during the 2025 Budget presentation by President Bola Tinubu.
“We shall continue on the part of nationalism and service to our country,” Akpabio said before a joint sitting of the Senate and the House of Representatives.
Akpabio said the 2024 Budget has achieved a 50% performance rate in capital expenditure and 48% in recurrent expenditure, reports Channels TV.
“Your Excellency, we have noted the 2024 Budget performance.
“Given this great achievement, we have deemed it necessary to extend the life span of the 2024 Budget to June 30th, 2025.
“The enabling law for this extension will soon be placed before you for your assent as a testament to our appreciation for the great performance of the budget, ensuring that we build upon your momentum,” Akpabio said.
Tinubu’s 2025 N47.9 trillion budget proposal was about N20 trillion higher than that of 2024. In December 2023, Tinubu presented the 2024 budget proposal of N27.5tn, his first, before the National Assembly. In the same month, the Senate increased the bill by N1.2tn and approved N28.7tn for the 2024 Budget.
