Commenting on the development, the head of Financial Institutions Ratings at Agusto & Co, Ayokunle Olubunmi noted that the move may see the government abandoning the 2024 projects to focus on the 2023 projects.
“This is not the first time the implementation period for the capital project component of an annual budget was extended. However, this is the first time that the implementation period has been extended until the end of a fiscal year.
“There are positives and negatives to this approval. On the positive note, the approval will provide enough time for projects highlighted in the budget to be executed instead of abandoning it and including it in another budget.
