The Nigerian Senate has further extended the implementation of the capital component of the 2022 budget from 31st March 2023 to 30th June 2023
The extension followed a lead debate by the Senate leader, Gobir Ibrahim (representing Sokoto East), requesting the upper chamber for the amendment of the Appropriation Act 2022.
The Senate leader explained that the extension will enable the government to implement key projects in the capital component of the 2022 budget and allow for the completion of ongoing projects critical to the current administration.
“You will recall that the National Assembly extended the implementation of the 2022 Appropriation Act from 31st December 2022 to 31st March 2023,” the Senate leader said.
“This was to allow full implementation of the budget, especially in the light of the 2022 supplementary budget approved in December 2022. The extension had allowed MDAs to utilize a large proportion of funds released to them. However, significant amounts of funds remain with MDAs and will require a further extension to be fully expended.
“Given the critical importance of some key projects nearing completion, requesting a further extension of the expiration clause in the Appropriation (Amendment) Act, 2022 and the Long Title and Explanatory Memorandum of the Supplementary Appropriation Act is expedient to avoid compounding the problem of abandoned projects, given that some of the projects were not provided for in the 2023 Budget,” he said.
