The Senate has approved an amendment to the 2023 Appropriation and Supplementary Act, extending the implementation periods of both budgets to December 31st, 2024. This revision, Business a.m. gathered, allows for the simultaneous implementation of the N28.78 trillion 2024 budget and the 2023 supplementary budget, bridging the traditional budgetary divide and ensuring continuity in the execution of government projects.
The resolutions of the Senate followed its consideration of the request of President Bola Tinubu, urging the red chamber to approve further extension.
President Tinubu’s request was contained in a letter presented to the senate by Godswill Akpabio, president of the Senate, at plenary on Thursday.
The letter titled: “Request for further amendment of the Appropriation Act 2023 and Supplementary Act 2023”, read in part:
“As you will recall by an Act of the National Assembly, the 2023 Appropriation Act and the 2023 Supplementary Appropriation Act were amended in March 2024.
“This was to allow for their implementation until June 30 2024.
“This extension was necessary to allow for the full implementation of capital projects contained in the budgets particularly those infrastructural projects intended to improve commerce, address challenges with security and education and health care and generally improve the well being of Nigerians.
“As many of these critical projects should remain ongoing, I write to request that the Senate considers and passes the legislation to extend the implementation of the Appropriation Act 2023 and the Supplementary Appropriation Act 2023 to Dec. 31.
“This is to ensure that the provisions of the Acts can be exhaustively implemented while hoping that this request shall receive the kind expeditious consideration of the Senate.”
As the sponsor of the 2023 supplementary budget extension bill, Senator Opeyemi Bamidele, representing Ekiti Central, urged the Senate to accelerate its review of the legislation in light of its significance for the Nigerian economy. Highlighting the need for expeditious consideration, Bamidele advocated for the suspension of relevant rules, prioritising swift decision-making and ensuring that the supplementary budget remains aligned with the country’s fiscal objectives.
“You will recall that on Wednesday 20th March 2024, these Acts were amended to allow for exhaustive implementation of capital projects under the Acts to 30th June 2024. The extension will expire on Sunday 30th June 2024 and many projects are yet to be completed,” he stated.
