Reps Give Federal Govt More Time to Spend 2025 Capital Budget

The House of Representatives has given the Federal Government an additional three months to implement the capital component of the 2025 budget. This decision was made after the lawmakers passed a bill to extend the implementation period from June 30 to September 30, 2026. The bill, which was titled 'A Bill for an Act to Amend the Appropriation (Repeal and Enactment) Act, 2025', was passed after the House suspended its standing orders to fast-track its consideration. According to the House Leader, Prof Julius Ihonvbere, the extension was necessary because many capital projects in the 2025 budget were yet to be completed. Ihonvbere stated that if the implementation period was not extended, it would have a negative impact on the country's economy. 'The purpose of this amendment is to extend the lifespan of the capital expenditure component of the budget from June 30, 2026, to September 30, 2026,' he said. The Speaker of the House, Tajudeen Abbas, also stated that the extension was necessary to enable the Federal Government to fulfill its obligations under the 2025 budget. The extension will give Ministries, Departments, and Agencies (MDAs) more time to execute ongoing capital projects and utilize funds allocated to them in the 2025 budget. The move is seen as a response to the challenges often faced in Nigeria's budget cycle, including delays in procurement processes and revenue shortfalls. Meanwhile, the House has announced changes in the leadership of some of its standing committees. Ali Madaki has been appointed as the Chairman of the House Committee on Special Duties, while Ali Isa will chair the Committee on Shipping Services. Pascal Agbodike has been named the Chairman of the Committee on the Small and Medium Enterprises Development Agency of Nigeria, and Kelechi Nwogu will chair the Committee on Hydrological Services. The Speaker has charged the new chairmen to immediately assume their responsibilities and use their legislative experience to advance the work of their committees.