2023 budget: NASS mulls extension of capital component implementation
Both the Senate and the House of Representatives have slated Thursday this week for emergency sessions, geared towards extending the implementation period for the capital component of N21.83trillion 2023 budget and those of the N2.17trillion 2023 supplementary budget.
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 N2.17 trillion 2023 Supplementary budget they passed in November, 2023.
On the strength of requests made by President Bola Tinubu to both Chambers in March this year, 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.
With four days to 30th June, 2024, fixed as end of implementation period for the affected 2023 budgetary appropriations, the two chambers fixed Thursday this week for separate sessions, where further extensions would be made ahead of their earlier resumption date fixed for July 2, 2024.
Confirming the emergency session through telephone conversations with journalists Wednesday, the chairman, Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu (APC Ekiti South), said the session would be majorly on budgetary appropriation.
When specifically asked whether extension of implementation period for capital component of 2023 budget was in the offing, he responded by saying varied issues requiring urgent legislative attention would be deliberated upon.
“The Senate shall be dwelling on wide range of issues at its plenary on Thursday, particularly those on budgetary appropriations vis – a – vis legislative compliance.
“Bills on 2024 Supplementary Appropriation and New National Minimum Wage are out of it , since they are yet to be forwarded for consideration and passage by President Bola Tinubu,” he said.
