December 18, (THEWILL) – The National Assembly has extended the implementation of the 2024 Appropriation Act to June 2025 following delays in the presentation of the 2025 budget by President Bola Tinubu.
Senate President, Godswill Akpabio, disclosed this in his welcome address at the joint session of the National Assembly during the presentation of the 2025 budget by Tinubu.
THEWILL reports that the President on Wednesday presented the 2025 Appropriation Bill of N47.9trn to a joint seasion of the National Assembly.
Chairman of the Senate Committee on Capital Markets and Institutions, Osita Izunaso, explained that the delayed submission of the budget makes it impossible for it to be passed by the end of December 2024.
He added that while the late submission was unfortunate, it was not a major issue, though it did disrupt the regular budget cycle.
This delay marks a departure from the reforms implemented by the 9th National Assembly in 2020, which shifted Nigeria’s budget cycle from June-May to January-December to enhance budget planning and performance.
Meanwhile, Akpabio has asked President Tinubu to caution his minister to honour every invitation extended to them by the National Assembly not that it will exercise its power on anyone who chooses to ignore their invitation.
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