Economy

Reps extend implementation period of 2023 supplementary budget

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    The House of Representatives has passed a bill seeking an extension of the implementation period for the 2023 supplementary budget.

    President Bola Tinubu had urged the lower legislative chamber to extend the period for the implementation of the capital segment of the 2023 appropriation bill from March 31, 2024, to June 30, 2024.

    Tinubu’s request was conveyed in a letter read on the floor of the House by the Speaker, Tajudeen Abbas on Wednesday, March 20.

    The President, in the letter, also requested the House to extend the implementation of the supplementary appropriation act from March 31, 2024, to June 30, 2024.

    He noted that the extension became necessary to ensure that the provisions of the two acts were fully implemented.

    Recall that President Tinubu in November 2023, signed the 2023 N2.17 trillion supplementary budget into law.

    Tinubu assented to the supplementary appropriation bill on November 8, 2023.

    The Senate had on November 2, 2023, passed the 2023 Supplementary Appropriation Bill forwarded to it for consideration by Tinubu.

    As requested by the President in the letter read in the Senate during plenary on Tuesday, October 31, 2023, the request was given expeditious consideration.

    The Red Chamber expressly approved the budget after the Chairman, Senate Committee of Appropriations, Solomon Adeola laid the report at the chamber.

    Before the bill’s passage, the Senate adopted a harmonized report from the sittings of both chambers on the 2023 Supplementary Appropriation Bill submitted by Senator Adeola.

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