The National Assembly has extended the implementation of the 2024 Budget to June 2025.
Senate President Godswill Akpabio stated this on Wednesday at the joint sitting of the senate and house of representatives.
DAILY GIST reports that President Bola Tinubu is attending the session to present the 2025 budget
The Chairman of the Senate Committee on Capital Markets and Institutions, Osita Izunaso (APC, Imo West) had earlier revealed that the late submission of the budget makes its passage within the year unfeasible.
Isunazo said, “The budget is coming late. Today is December 18, so we will lose that culture of beginning a new year with a new budget. Nevertheless, the budget has a lifespan of 12 months.
“So whenever we pass it, it will have a lifespan of 12 months. Even after 12 months, we still have the liberty to extend it. In fact, we are extending the 2024 budget today.
“But that culture of starting on the 1st of January, we have lost it. The executive ought to have brought this budget way before now. But I believe that maybe they are putting things together.
“They wouldn’t want to delay deliberately bringing the budget to the National Assembly. So I’m saying that that is not a problem, but we have lost that culture.”
