Title: World Bank Urges Nigeria to Restore Public Trust Through Better Service Delivery

In a move that has sparked mixed reactions across Nigeria’s political and economic spheres, the Senate on Tuesday, June 25, approved the extension of the implementation of the 2024 capital component of the national budget till December 31, 2025. This significant development was announced during plenary, following President Bola Ahmed Tinubu’s request to ensure continued financing of critical infrastructure and development projects across the country.
Originally, the capital budget was set to lapse by June 30, 2025. However, citing slow releases of funds and the need for full utilization of appropriated capital allocations, lawmakers saw it fit to prolong the deadline. This decision is expected to offer ministries, departments, and agencies (MDAs) more time to execute key capital projects without the fear of budget expiration.
Senate Leader, Opeyemi Bamidele, who presented the proposal, emphasized the importance of the extension for ensuring that vital infrastructure projects such as road construction, power facilities, education improvements, and health sector upgrades do not stall mid-execution. The extension will also support Nigeria's economic recovery and growth plan, which aims to stimulate jobs and boost public investment.
While some analysts welcomed the decision as a practical move to ensure better fiscal management, others have raised concerns about potential misuse of extended timelines to cover lapses in project delivery or increase corruption loopholes. Transparency advocates are urging the National Assembly and relevant monitoring agencies to ensure strict oversight and accountability throughout the new implementation period.
The extension signals a shift in Nigeria’s budgeting culture, moving toward more flexible but results-driven timelines. It remains to be seen whether this move will translate to tangible development on ground or just another bureaucratic adjustment. Nigerians will be watching closely as the extended budget unfolds in the coming months.
— Luchiinter.blogger.com
Comments