Senate President Godswill Akpabio has revealed that the 2024 budget will be extended until June 25, 2025. He made this statement during his opening remarks at the presentation of the 2025 Appropriation Bill by President Bola Ahmed Tinubu to the joint session of the National Assembly on Wednesday.
Senator Akpabio noted that the extension is aimed at ensuring better implementation of the budget’s objectives. He also highlighted the performance of the 2024 budget so far, stating that it has achieved a 50% execution rate for capital expenditures and 48% for recurrent expenditures. These figures underline the need for more time to fully realize the goals of the current fiscal plan.
President Tinubu was at the National Assembly to present the proposed 2025 budget, which totals ₦47.9 trillion. This marks a critical step in shaping the country’s economic policies for the upcoming fiscal year. The budget proposal, once approved, will serve as the foundation for government operations and development projects in 2025.
