The Senate on Thursday extended the implementation of the capital component of the 2023 budget until 31, December 2024.

The upper chamber also extended the implementation of the N2.17 trillion 2023 supplementary budget until December.

The Senate President announced the extension of the appropriation bills during the emergency plenary after it was read for the first, second and third times and passed by a majority of the senators.

The appropriation bills were separately considered at the senate committee on supply.

This would be the second time that the lawmakers will be extending implementation of the 2023 budget and its components since beginning of the President Bola Tinubu administration.

In March, the upper chamber extended implementation of the capital component of the 2023 budget and implementation of the N2.17 trillion 2023 supplementary budget until June.

With the development, it means that the 2023 budget will be implemented for two years despite the existence of the 2024 budget.

It also means that the federal government is currently implementing two budgets, 2023 and 2024 appropriation Acts.

The Senate Leader, Opeyemi Bamidele, presented a lead debate on the extension of the money bills.

Bamidele said that the extension was required to allow the federal government complete ongoing projects captured in the budgets.

He said, "This bill therefore, intends to further extend the implementation period of the Acts to 31st December, 2024 in view of the strategic importance of some key projects nearing completion, and to allow for continued implementation for the maximum benefit of the country.

"Undoubtedly, this would go a long way to avoid the compounding problems of abandoned projects. Hence, the need for the enactment of this proposed legislations to extend the implementation," Bamidele said.

The Minority Leader, Abba Moro supported extension of the appropriation bills.

Moro noted that there was the need for extension of the budget.

Ali Ndume (APC, Borno South) observed that the main reason for the extension was to allow the federal government to complete ongoing capital projects.