Nigerian Senate Extends 2024 Budget Capital Components to 2025, ₦1 Trillion Allocated

The Nigerian Senate has decided to extend the capital components of the 2024 budget until December 2025, with a total of ₦1 trillion allocated for development. This decision was made jointly by the Committees on Appropriations of the Senate and the House of Representatives, following a meeting with the economic team led by President Bola Ahmed Tinubu.

The extension aims to assess the implementation of the 2024 and 2025 budgets. Notable attendees included the Minister of Finance, Wale Edun, and Senator Atiku Bagudu.

The move to withdraw circulars issued for contract awards in 2025 was also discussed during the meeting.