By Ajibola Olaide, JKNewsMedia Correspondent
IMPLEMENTATION OF the capital component of the 2025 budget has been extended by the national assembly from March 31 to June 30 following the passage of an amendment bill.
JKNewsMedia.com reports that the approval came after consideration and passage of a bill seeking to amend the 2025 appropriation act to further extend the implementation timeline.
The bill was sponsored by Senate Leader Opeyemi Bamidele during plenary on Tuesday and was also extended in the House of Representatives.
Bamidele said the rationale for the amendment was both compelling and pragmatic, noting that execution of capital projects under the 2025 appropriation act had not reached optimal levels despite the release of about 30 percent of allocated funds to ministries, departments and agencies.
“This situation, if not urgently addressed, risks exacerbating the already troubling incidents of abandoned or partially executed projects across the country,” he said.
He stated that a significant proportion of the projects still have ongoing relevance, adding that only about 70 percent of the projects have been captured under the 2026 appropriation framework.
According to him, without the extension, several critical national infrastructure and development initiatives of the president may suffer avoidable disruption.
“The bill is therefore designed to ensure continuity, enhance budget performance and promote efficient utilisation of already released funds,” he 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.”
Bamidele said it was imperative to provide ministries, departments and agencies with the legal window needed to fully implement their projects in the public interest.
Deputy Senate President Barau Jibrin seconded the motion for approval of the bill, stating that President Bola Tinubu remains committed to accelerating infrastructure development across the country.
“It is in tandem with the ‘Renewed Hope Agenda’ of Mr President to bring about prosperity to our nation,” he said.
“And this cannot be done without building the critical infrastructure needed to bring about this vision to fruition.”
Jibrin said the extension would help ensure that ongoing projects are completed and prevent the recurrence of abandoned projects.
“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.
The senate passed the bill after considering it clause by clause.
Speaking after the passage, Senate President Godswill Akpabio commended lawmakers for supporting the extension.
“I want to thank all distinguished senators for their patriotism and contributions that enable this to take place,” he said.
Akpabio said the extension would give the latitude to the executive to ensure proper implementation of the capital components of the budget.
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