Abuja, Nigeria
Godwill Akpabio, President of the Senate, has said the implementation of the 2024 appropriation act will be extended till June 2025.
The senate president said this during a joint session of Wednesday’s upper and lower chambers of the national assembly.
President Tinubu was the guest of the legislature as he presented the 2025 budget proposal during the joint sitting.
Akpabio said the bill extending the 2024 budget will soon be transmitted to the president for approval.
In December 2023, the national assembly passed N28.7 trillion as the 2024 budget—an increase of N1.2 trillion against the 27.5 trillion proposed by Tinubu.
In July 2024, the Nigerian National Assembly approved an increase of N6.2 trillion to the country’s budget for the year, bringing the total budget to N35 trillion. This adjustment followed the initial budget of N28.7 trillion that the president had signed into law on January 1, 2024.
This increase in the budget is significant and may reflect changes in economic priorities, government spending plans, or unforeseen financial needs. It could also be linked to adjustments for inflation, public service spending, or economic recovery initiatives.
Akpabio commended Tinubu for his economic reforms, saying the president is “fast becoming a national treasure”.
He said the president has done his best to tackle the challenges met when he assumed office.
The senate president said the nation has witnessed a “remarkable stride” in economic reforms.
Akpabio lauded the president and the military for “liberating our nation from the grip of terror,” saying that no community in the country is under the control of Boko Haram.
“Nigerians are taking notice of all your reforms,” he said.
On the tax reform bills, Akpabio said the proposed legislation represents a “monumental shift in our economic reforms”.
“We will not kill any reforms that you bring forward that will change this country,” Akpabio said.
