NASS Extends 2023 Capital Budget Implementation To March 2024

The National Assembly has extended the implementation of the capital component of the 2023 budget from December 31 this year to March 31, 2024.

This followed the passage of the Appropriation (Amendment) Bill, 2023 and Supplementary Appropriation Act, 2022 (Amendment) Bill, 2023 at plenary yesterday in both chambers. 

The executive bills were slated and passed for second readings and their reports were considered by the Committee of Supply chaired by the Deputy Speaker, Hon. Benjamin Kalu who presided over the plenary.

Subsequently, the report of the Committee of Supply was adopted when the House reverted to plenary and bills were passed for third reading – final stage.

The Appropriation amendment bill reads:”The Appropriation Act, 2023 (in this Act referred to as “the Principal Act”) is amended as set out in this Act.

“Section 12 of the Principal Act is amended by substituting for the date “31st December, 2023” in line three, the date “31st March 2024.”

This Bill may be cited as the Appropriation (Amendment) Bill, 2023.

“This Bill seeks to amend the Appropriation Act 2023, to extend the implementation of the Capital aspect of the Appropriation Act, 2023 from the 31st December, 2023 to 31st March 2024.”

The Supplementary Appropriation amendment bill provides that: “The Supplementary Appropriation Act, 2023 (in this Bill referred to as “the Principal Act”) is amended as set out in this Bill.

“Section 1 of the Principal Act is amended by substituting for the words “31st December, 2023” in line 14, the words “31st March, 2024.” This Bill may be cited as the Supplementary Appropriation Act, 2022 (Amendment) Bill, 2023.

“This Bill seeks to amend the Supplementary Appropriation Act, 2023 to extend its implementation to 31st March, 2024.

Meanwhile, the House has adjourned plenary to Saturday, December 30 when the 2024 budget (Appropriation Bill) will be passed.

LEADERSHIP reports that the House has slated December 30, 2023 for the passage of the 2024 budget to keep with the January to December budget cycle.

Speaker Abbas Tajudeen had disclosed this on Tuesday at the resumed plenary after three weeks the House adjourned sitting to enable standing committees hold budget defence with ministries, departments and agencies.

Abbas said other budget related activities like compilation, processing and harmonisation would take place in between the period to the passage date.

He said: “Honourable colleagues just for your records and information from the Committee on Appropriation. It is an appeal to all committees that are unable to finish their budget defence and submit their reports. They have up to 8pm today to finish and submit their reports for defense at the Appropriation Committee office.

“I also want to inform you that the official day for the passage of the budget would be slated for Saturday 30th December, 2023. In between this two dates, all other activities like harmonization, compilation, and processing of the bill will take place.

“So please take note, those of you who may want to go for Christmas try to take note that Saturday 30th December would be the day that we will officially pass the budget.