By Abiola Olawale
The President of the Senate, Senator Godswill Akpabio, has announced that the implementation of the 2024 budget will be extended until June 2025.
He explained that the decision aims to allow for further execution of the capital components of the budget.
According to him, the extension is expected to facilitate the completion of ongoing projects and ensure the full utilization of allocated funds for the year.
Akpabio made this known on Wednesday at the joint sitting of the Senate and House of Representatives.
Akpabio said the bill extending the 2024 budget will soon be transmitted to the president for approval.
It would be recalled that in December 2023, the national assembly passed the 2024 appropriation bill, increasing its size from the N27.5 trillion proposed by President Bola Ahmed Tinubu to N28.7 trillion.
In July, the national assembly further increased the 2024 budget by N6.2 trillion to N35 trillion — from an initial N28.7 trillion signed into law by the president on January 1.
