Senate Extends 2025 Budget Capital Spending Deadline to Sept 30

The Senate has approved a three-month extension for the capital component of the 2025 budget, pushing the deadline to September 30, 2026, to prevent project abandonment and ensure fund utilization.

NGN Market

Written by NGN Market

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Senate Extends 2025 Budget Capital Spending Deadline to Sept 30

The Senate has granted an additional three-month extension for the implementation of the capital component of the 2025 Appropriation Act. The deadline has been shifted from June 30, 2026, to September 30, 2026.

This decision, made during plenary on Thursday, June 11, is intended to improve budget performance and prevent the abandonment of ongoing government projects. Lawmakers cited delays in project execution, procurement bottlenecks, and administrative processes as reasons for the extension.

Senate Leader Senator Opeyemi Bamidele stated that the 2025 Appropriation Act was enacted to fund government programs aimed at promoting economic growth, infrastructure development, national security, and the welfare of Nigerians. However, a significant portion of funds released to Ministries, Departments, and Agencies (MDAs) remains unutilized due to implementation challenges.

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Bamidele warned that failing to extend the implementation period could lead to the abandonment of strategic capital projects, wastage of public resources, and disruption of government interventions. He noted that many projects are in advanced stages of completion and require additional time for execution, certification, and payment.

The Senate's resolution to amend the 2025 Appropriation Act was overwhelmingly approved by a voice vote, presided over by Senate President Godswill Akpabio. The extension specifically applies to the capital component of the budget.

The resolution will now be transmitted to the House of Representatives for concurrence. If approved, MDAs will have until September 30, 2026, to complete the execution, certification, and payment processes for capital projects under the 2025 budget.

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