2024 budget implementation will be extended to June 2025, says Akpabio

Senate President Godswill Akpabio says the implementation of the 2024 Appropriation Act will be extended to June 2025.

Akpabio spoke on Wednesday at the joint sitting of the senate and house of representatives.

President Bola Tinubu is attending the session to present the 2025 budget.

Akpabio said the bill extending the 2024 budget will soon be transmitted to the president for approval.

In December 2023, the national assembly passed the 2024 appropriation bill, increasing its size from the N27.5 trillion proposed by Tinubu to N28.7 trillion.

In July, the national assembly increased the 2024 budget by N6.2 trillion to N35 trillion — from an initial N28.7 trillion signed into law by the president on January 1.

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.

Addressing the lawmakers, Tinubu said the 2025 budget will consolidate the key policies that will restructure the nation’s economy.

The president added that Nigerians will soon experience a better and more functional economy.