The Nigerian Senate has again extended the implementation period for the capital component of the N21.83trillion 2023 budget and those of the N2.17trillion 2023 supplementary budget from June 30, to December 31, 2024.
The upper Chamber approved the extension after granting speedy, consideration and approval of two bills seeking to amend the 2023 Appropriation Act and 2023 Supplementary Appropriation Act, to further extend its implementation to December 31, 2024, and for Related Matters.
The Bills were read for first, Second and Third time during plenary on Thursday. The extension was to ensure completion of capital projects across the country to avoid cases of abandonment.
The extension of the supplementary budget was the only agenda on the Senate’s order paper. The Red Chamber brought forward resumption from its break from July 2 to Thursday, June 27 to consider extend the budget at the request of President Bola Tinubu.
Even though, the Senate said Thursday’s session was to consider several other national issues, it only considered the extension of the budgets, and also held an executive session that lasted for about one hour.
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Both Chambers had in December 2023, extended the implementation period of capital component of the budget for the fiscal year from December 31, 2023 to March 31, 2024 along with the Supplementary budget , they passed in November, 2023 .
At the requests of President Tinubu, both the Senate and the House of Representatives , further extended the implementation period for the budgetary appropriations from March 31, 2024 to June 30, 2024 on 19th and 20th March this year respectively .
During debate on the bills, Opeyemi Bamidele, the Senate leader argued that the extension was necessary to complete ongoing projects in order to help redkate the economy
Orji Uzor kalu, the Senate representing Abia North, however urged the Chamber to clearly specify that the extension is for capital projects and not recurrent and current expenditure, noting that failure to do so will brbreedorruption.
Osita Izunaso, the Senator representing Imo West urged the Chamber to, going forward, carry over items from previous budgets to the next budget cycle rather than extending the lifespan.
Godswill Akpabio, the Senate President agreed with Izunaso that the Senate will henceforth consider carrying over unimplemented budgets.
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