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    Home»Legislature

    2023 Budget: NASS hints on possible extension of capital component implementation

    By National UpdateJune 26, 2024Updated:June 26, 2024 Legislature No Comments3 Mins Read
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    **To hold emergency sessions on Thursday

    **Says its opportunity to consider wide range of issues

    As the National Assembly cut short its sallah break in its effort to gain more legislative days, the Senate and the House of Representatives have slated Thursday this week for emergency sessions.
    The haste to resume as gathered is solely to give them room to extend the implemention period for the capital component of N21.83trillion 2023 budget and those of the N2.17trillion 2023 supplementary budget.

    The lawmakers had 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 N2.17trillion 2023 Supplementary budget, they passed in November, 2023 .

    On the strength of requests made by President Bola Tinubu to both Chambers had on 19th and 20th March, 2024 respectively further extended the implementation period for the budgetary appropriations from March 31, 2024 to June 30, 2024

    With four days to 30th June 2024, fixed as end of implementation period for the affected 2023 budgetary appropriations, the two chambers have 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 on 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 asked whether extension of implementation period for capital component of 2023 budget was in the offing, he indicated that 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 .
    He added that the hastily convened session for Thursday is in line with Senate’a constitutional power to regulate its sessions which according to him, would make it deal with national and constitutional issues earlier than hitherto scheduled .

    Some other Senators contacted, hinted that, requests for further extension of implementation period for the capital component of the N21.83tr 2023 budget and N2.17tr supplementary budget for the fiscal year may have been forwarded by President Tinubu to both chambers of the National Assembly

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