NATIONAL ASSEMBLY NOT READY TO IMPLEMENT 2024 BUDGET, EXTENDS IT TO DECEMBER 31st

Enterprise Morning Show | Newspaper Review Segment 🗞️ | June 21, 2025

Top Headlines Today:

📌 Project Funding Crisis: Budget execution suffers setbacks nationwide over poor implementation, as analysts raise red flags on the capital project delivery gap.
📌 Mass Defections Rock Opposition: Fresh defections from PDP and LP to the APC intensify political realignments ahead of 2027 amid deepening internal crises.
📌 Tinubu on Farmer-Herder Crisis: President Tinubu frames recurring conflicts as a chance to rebuild social stability and boost food security through structured reforms.
📌 Digital House Numbering in Lagos: The Lagos State Government is set to launch a citywide digital house numbering initiative starting July 1.
📌 Benue & Plateau Killings: Inspector General of Police confirms 53 suspects arrested in connection with recent violence in the two states.
📌 Middle East Tensions: Strikes persist in Iran and Israel, despite ceasefire calls by former U.S. President Donald Trump.
📌 Budget Extension Criticism: Backlash grows as Tinubu and the National Assembly face mounting criticism over the 2024 budget extension to December 2025.

Enterprise Morning Show | Budget Review Segment

🔍 Budget 2024 Extension: Implementation Deadline Pushed to December 2025

The National Assembly has officially extended the capital implementation deadline for the 2024 budget to December 31, 2025 — the second extension of the same fiscal year, raising questions over Nigeria’s budgeting culture.

✔️ The extension, prompted by a request from President Bola Tinubu, aims to ensure fuller delivery of capital projects that are lagging behind schedule.
✔️ The bill, championed by Senator Olamilekan Adeola (Chairman, Senate Appropriations Committee), flew through the Senate with minimal opposition.
✔️ Critics argue this reflects a troubling trend of fiscal overlap and concurrent budgets, a pattern seen under the Tinubu administration and echoed in 2022 and 2023 budget extensions.

Meanwhile, the House of Representatives’ earlier push for budget reforms and restrictions on excessive supplementary budgets appears to have lost momentum.

📌 The Senate has directed its Appropriations and Finance Committees to investigate persistent delays in capital fund releases and submit findings within a week.

🔎 What does this mean for Nigeria’s financial accountability? Is this another case of policy inconsistency or a practical solution to execution delays? Let’s unpack it all.
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