National Assembly Eyes Extension of 2024 Capital Budget, Pushes June 12 as National Address Day
The National Assembly is considering a further extension of the capital expenditure component of the 2024 federal budget to ensure its full implementation. Senate Leader Opeyemi Bamidele announced this development, stating that lawmakers will assess the level of execution and may prolong the timeline beyond the current June 30, 2025, deadline. The extension, he emphasized, is essential to support continuity and effective delivery of capital projects across the country.
This move comes after an earlier six-month extension was granted in December 2024. Senate President Godswill Akpabio highlighted that the 2024 budget had recorded a 50% performance rate for capital expenditure and 48% for recurrent expenditure. He credited this progress as justification for the proposed extension and revealed that enabling legislation would soon be presented to President Bola Ahmed Tinubu for assent.
Beyond budget discussions, Senator Bamidele revealed plans to institutionalize a presidential address every June 12, Nigeria’s Democracy Day, through a forthcoming bill. According to him, such an address would hold symbolic importance and allow the President to speak to the nation from the National Assembly during a joint parliamentary session. President Tinubu is scheduled to address lawmakers tomorrow in such a sitting.
The proposed bill will also seek to designate the National Assembly complex as the official venue for future presidential inaugurations. Bamidele suggested that this symbolic change would cement the democratic significance of June 12 and align with the evolving political traditions in Nigeria. He hinted that President Tinubu could be the first to be sworn in under this new framework.
In addition, Bamidele addressed the ongoing constitutional amendment process, acknowledging its slow pace but assuring Nigerians that it is nearing completion. As Vice Chairman of the Constitution Review Committee, he confirmed that about 70% of the work has been done. Public hearings will soon commence at zonal levels, culminating in a joint session by both chambers to finalize the amendments before the end of the current legislative term.