The National Assembly, encompassing both the House of Representatives and the Senate, has passed a bill amending the Appropriation Act 2023, extending the implementation of the capital component of the Act from June 30, 2024, to December 31, 2024.
The bill also amends the Supplementary Appropriation Act 2023 to extend its implementation to the same date.
The bill, which scaled its first reading on Thursday, was introduced and debated by Senate Leader Sen. Opeyemi Bamidele, the sponsor of the executive bill.
President Tinubu’s Request
This legislative action follows a request from President Bola Tinubu, who on Thursday asked the Senate to extend the implementation period for both the capital component of the N21.83 trillion 2023 budget and the N2.17 trillion 2023 supplementary budget.
The President’s request aims to ensure the full execution of budgetary allocations until December 31, 2024.
Previous Extensions
Previously, in December 2023, the National Assembly extended the implementation period of the capital component of the fiscal year’s budget from December 31, 2023, to March 31, 2024. The same extension applied to the N2.17 trillion supplementary budget passed in November 2023. Another extension was granted on March 19 and 20, 2024, moving the deadline from March 31, 2024, to June 30, 2024.
Senate Deliberations
Senate President Godswill Akpabio chaired the plenary session during which the bill was passed. He indicated that the request for further extension would be deliberated in a committee of supply after the Senate reconvenes from a closed-door session.
Tribute to Late Deputy Controller of Customs
In a related development, the Senate observed a minute of silence in honor of the late Deputy Controller of Customs, Etop Essien, who passed away on Tuesday while answering questions from the House of Representatives Committee on Public Account.
This legislative move underscores the government’s commitment to ensuring the complete and efficient utilization of budgetary allocations amidst ongoing fiscal challenges.