The National Assembly will on Wednesday, December 18 extend the 2024 budget cycle.
The Chairman of the Senate Committee on Capital Markets and Institutions, Osita Izunaso (APC, Imo West), made this known.
Izunaso said the extension is because the executive presented the 2025 budget late.
As reported by The Punch, the 2025 budget that is to be presented today will be passed at the end of the year.
“The budget is coming late. Today is December 18, so we will lose that culture of beginning a new year with a new budget. Nevertheless, the budget has a lifespan of 12 months.
“So whenever we pass it, it will have a lifespan of 12 months. Even after 12 months, we still have the liberty to extend it. We are extending the 2024 budget today.”
