President of the Senate Godswill Akpabio, says the implementation of the 2024 Appropriation Act will be extended until June 2025.
Akpabio made this known during his opening remarks at the presentation of the 2025 Appropriation Bill by President Bola Tinubu to a joint session of the National Assembly on Wednesday.
Providing an update on the 2024 budget, Akpabio revealed that its performance stands at 50% for Capital Expenditure and 48% for Recurrent Expenditure.
President Tinubu, who arrived at the National Assembly at exactly 12:14 p.m., presented the 2025 budget proposal, which totals ₦47.96 trillion.
The extension of the 2024 budget’s implementation is expected to allow for the completion of ongoing projects and ensure efficient utilization of allocated funds.
Akpabio however, emphasized the importance of addressing gaps in budgetary performance to strengthen fiscal responsibility and accountability in governance.
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