- The development was sequel to the adoption of the bill seeking to amend the 2023 Supplementary Appropriation Act and for other related matters, 2024
The Senate has extended the implementation of the 2023 budget and the Supplementary Appropriation till June 30, 2024.
This was sequel to the adoption of the bill seeking to amend the 2023 Supplementary Appropriation Act and for other related matters, 2024.
The National Assembly passed the sum of N21.8trillion and a supplementary Appropriation of N2.1trillion for 2023 fiscal year.
Presenting the bill, the Senate Leader, Senator Opeyemi Bamidele (APC Ekiti Central), explained that in view of the critical importance of some key projects nearing completion, it was expedient to grant extension of the expiration clause to avoid compounding the problem of abandoned projects.
Senator Bamidele noted that, given that some of the projects were not provided for in the 2024 budget under legislative considerations, the need to extend the implementation to June 30, 2024 of both Acts had become expedient.
He reiterated that the bill, if passed, would allow full utilization of the capital releases in order to help reflate the economy.
Accordingly, after a clause-by-clause consideration of the bill at the Committee of the Whole, it was passed by the Senate.