Senate President Godswill Akpabio has said that the implementation of the 2024 Appropriation Act would be extended to June 2025.
During the joint session of the National Assembly where President Bola Tinubu present the Federal Government’s 2025 budget proposal, Akpabio said the bill extending the 2024 budget would 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 President 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 1 January. On Wednesday, President Tinubu presented a N49.7 trillion budget estimates for 2025.
Akpabio commended the President for his economic reforms, saying he is “fast becoming a national treasure”.
He said President Tinubu has done his best to tackle the challenges met when he assumed office.
Akpabio said the nation has witnessed a “remarkable stride” in economic reforms.
He 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, the Senate President said that 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, President Tinubu said the 2025 budget would consolidate the key policies that will restructure the nation’s economy.
He added that Nigerians will soon experience a better and more functional economy.
