*Senate President Godswill Akpabio announces the National Assembly has extended the to extend the life span and operation of the current 2024 Budget by six months, noting the 2024 Budget has achieved 鈥榓 50 percent performance rate in capital expenditure and 48 percent in recurrent expenditure鈥� thus far

Isola Moses | 绿帽献妻

Sequel to relatively good performance of the extant Appropriation Act, the National Assembly (NASS), in Abuja, FCT, has decided to extend the life span and operation of the 2024 Budget by six months into next year.

绿帽献妻 reports Senate President Godswill Akpabio disclosed this development Wednesday during President Bola Ahmed Tinubu鈥檚 formal presentation of the N49.7 trillion 2025 Appropriation Bill to the joint sitting of the Senate and the House of Representatives.

Akpabio stated: 鈥淲e shall continue on the part of nationalism and service to our country.鈥�

The Senate President also said the 2024 Budget had achieved a 50 percent performance rate in capital expenditure and 48 percent in recurrent expenditure.

He equally noted: 鈥淵our Excellency, we have noted the 2024 Budget performance.

鈥淕iven this great achievement, we have deemed it necessary to extend the life span of the 2024 Budget to June 30th, 2025.鈥�

Akpabio further stated: 鈥淭he enabling law for this extension will soon be placed before you for your assent as a testament to our appreciation for the great performance of the budget, ensuring that we build upon your momentum.鈥�

It is recalled President Tinubu, December 2023, had presented the 2024 Budget proposal of N27.5 trillion to the National Assembly.

Following consideration of same, the Senate later increased the Appropriation Bill by N1.2 trillion and approved N28.7 trillion for the current 2024 Budget.

鈥楻emarkable milestones in implementing the 2024 Budget鈥�, by Tinubu

As part of his constitutional duties, President Tinubu Wednesday presented the 2025 Budget to the joint session of the 9th National Assembly.

The Nigerian leader, in his budget speech said the N49.7 trillion 2025 Budget Proposal reinforces his administration’s 鈥渞oadmap to secure peace, prosperity, and hope for a greater future鈥� for Nigeria and Nigerians.

Christened the 鈥淏udget of Restoration: Securing Peace, Rebuilding Prosperity鈥�, Tinubu stated next year鈥檚 Appropriation Bill 鈥渟trikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilising the economy, improving lives, and repositioning our country for greater performance.鈥�

The President said: 鈥淚 am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget.

鈥淚n 2024, we achieved 14.55 trillion Naira in revenue, meeting 75 percent of our target as of the third quarter; 21.60 trillion Naira in expenditure, representing 85 percent of our target, also in the third quarter.

Tinubu added: 鈥淲hile challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt.鈥�

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