National Assembly Extends Budget Lifespan: Senate and House Approve Extension of 2023 Budget and Supplementary Budget Implementation

Both the Senate and the House of Representatives approved the extension of the implementation of the 2023 budget and the supplementary budget until June 30, 2024.

The decision was made following a request from President Bola Tinubu, who claimed that the extension was necessary to ensure the full implementation of the provisions of the two Acts.

During the Senate’s plenary session, the appropriation bills were separately considered at the Senate committee on supply, and their passage was announced by the Deputy Senate President, Barau Jibrin, after being read for the second and third time and receiving majority support from the Senators.

The Senate President, Godswill Akpabio, had earlier read a letter from President Tinubu requesting the extension of the implementation of the two bills.

Similarly, the House of Representatives also passed bills seeking to amend the Appropriations Act, 2023 and the Supplementary Appropriations Act for the same financial year.

In a letter read on the floor by Speaker Abbas Tajudeen, President Tinubu requested the extension of the period for the implementation of the 2023 appropriation bill from March 31, 2024, to June 30, 2024.

The House subsequently passed the executive bills for first and second readings, and the bills were approved in the committee of supply, chaired by Speaker Tajudeen.

In late 2023, the House had passed the supplementary appropriation bill (budget) of N2.18 trillion for the 2023 fiscal year, with N18 billion allocated for statutory transfers, N992.80 billion for Recurrent (non-debt) expenditure, and N1.1 trillion for contribution to the Development Fund for Capital Expenditure.

With the passage of these bills, the National Assembly has demonstrated its commitment to ensuring that the provisions of the 2023 budget and the supplementary budget are fully implemented, thereby contributing to the development and progress of the nation.