JUST IN: Again, National Assembly Extends 2023 Budget’s Lifespan

Again, National Assembly Extends 2023 Budget’s Lifespan

Again, National Assembly Extends 2023 Budget’s Lifespan

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The Senate yesterday extended the implementation of the capital component of the 2023 budget until June.

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

In the same vein, the House of Representatives also approved the request by President Bola Tinubu to extend the implementation of the 2023 budget from March 31 to June 30 this year.

The deputy senate President, Barau Jibrin, who presided over the session, announced extension of the appropriation bills during the plenary after it was read for the second and third time and supported by a majority of the senators.

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

Extension of the two appropriations were sequel to the requests of President Bola Tinubu.

The senate president, Godswill Akpabio, had earlier read a letter from the president, requesting for the extension of implementation of the two bills.

Tinubu, in the letter, claimed that the extension was necessary to ensure that the provisions of the two Acts were fully implemented.

After passage of the bill, the deputy senate president expressed appreciation to the lawmakers for supporting its passage.

On its part, the lower house also extended the implementation of the Supplementary Appropriations Act, 2023 for the same period.

The approval followed the passage of bills seeking to amend the Appropriations Act, 2023 and Supplementary Appropriations Act for the same financial year at plenary on Wednesday.

President Bola Ahmed Tinubu had written the House to extend the period for the implementation of the 2023 appropriation bill from March 31, 2024, to June 30, 2024.

In a letter read on the floor of the House by the Speaker, Abbas Tajudeen at plenary, the president said the extension became necessary to ensure that the provisions of the two acts were fully implemented.

Consequently, the House slated the executive bills for first and second readings; passed, considered and approved them in the committee of the supply, chaired by Speaker Abbas Tajudeen.

The House had late last year passed the supplementary appropriation bill (budget) of N2.18 trillion for the 2023 fiscal year.

Out of that N18 billion was for statutory transfers, N992.80 billion for Recurrent (non-debt) expenditure while the sum of N1.1 trillion, one  for contribution to the Development Fund for Capital Expenditure.

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