Senators and House members recently approved a second extension of the capital component of the 2024 budget—moving the deadline from June 30 to December 31, 2025—drawing intense criticism of both President Tinubu and the National Assembly .
Critics, including economists and private-sector leaders, argue this repeated delay highlights a chronic inability of government agencies to implement budgets on time. They warn that it undermines fiscal discipline and makes it difficult to assess how public funds are being used .
Senate Deputy President Barau Jibrin and other lawmakers defended the move, saying capital projects need more time due to limited financial resources. They fear ending the budget prematurely would leave many projects abandoned .
Meanwhile, insiders report that as of June, most ministries were still operating off the 2024 budget, with full implementation of the 2025 budget yet to begin. This stagnation has delayed payments to contractors and staff—some salaries and allowances remain unpaid—and there’s speculation the 2025 budget won’t kick off until August .
Economists like Ayo Teriba and Paul Alaje called the extensions “habitual,” warn of inflation risks, and argue that running two budgets concurrently sends the wrong message to investors. They advocate completing one budget cycle before rolling out another .
Other experts, including Dr Aliyu Ilias, also fear double allocations and lack of transparency, saying the practice sets a dangerous precedent for budgeting in Nigeria .
However, there are voices defending the decision. Segun Kuti‑George of the Small‑Scale Industrialists argues the extension supports completion of critical infrastructure, ensuring the economy benefits from ongoing 2024 projects even though the 2025 budget has started .
