The House of Representatives approved the extension of the implementation period for the capital component of the 2025 budget, setting a new deadline of September 30, 2026, instead of June 30, 2026.
The decision was reportedly taken after considering a bill seeking to extend the life of the capital expenditure component of the budget.
The proposal was presented at plenary by the House Leader, Julius Ihonvbere, who led the lawmakers in the debate on the general principles of the bill.
A lot of funds released to various Ministries, Departments and Agencies have not been fully utilised, the House said.
Lawmakers said the situation has been blamed on a host of problems, including delays in the procurement process, administrative problems and other hurdles to project implementation.
The extension is anticipated to grant government agencies additional time to continue and complete ongoing projects in various parts of the country.
It also aims to prevent critical infrastructure projects from remaining in limbo and to allow the clearance of outstanding financial obligations relating to approved projects.
The approval was made in an emergency sitting of the House of Representatives.
Earlier, a memo by the Acting Clerk of the House, Ibrahim Sidi, had notified members of the session.
The notice informed the lawmakers that the emergency plenary would be held at 11 a.m. in accordance with the provisions of the Standing Orders of the House of Representatives.
The federal agencies responsible for carrying out capital projects under the 2025 budget now have an additional three months to spend allocated funds and advance projects still in progress before the new September deadline, thanks to the extension now approved.
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