NEWS: NIGERIA - Buhari signs 2015 budget implementation extension bill

President Muhammadu Buhari has appended his signature to an Act of the National Assembly, authorising the executive to extend the implementation of the capital vote component in the 2015 budget beyond December 31, 2015, the previous deadline.
Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, confirmed the development in a statement issued in Abuja yesterday.

Enang said the extension became important because legislators, institutions and other concerned agencies had been contacting him to know the true status of the Act, which was forwarded to President Buhari last week.

He said: “Further to several enquires and calls by legislators, institutions et al, on the subject, we deem it appropriate to issue this release. His Excellency, President Muhammadu Buhari, has assented to the 2015 Appropriation Amendment Act passed by the National Assembly on December 22, 2015, (extending the 2015 financial year to March 31 in respect of capital projects).

TheActtoamendthe2015AppropriationAct specifically authorised the issue from the Consolidated Revenue Fund of the Federation, N556.9billion meant for capital expenditure in the 2015 budget to enable the appropriate government agencies carry out massive infrastructural projects during the dry season.

The Senate had last Tuesday, amended the 2015 Supplementary Appropriation Act to enable the executive implement the N557 billion capital expenditure component in the 2015 Budget up to March this year.

The amendment was perfected at plenary shortly after Buhari presented the 2016 budget estimates to the joint session of the National Assembly.

Senate President Bukola Saraki had said the amendment will allow the executive carry out execution of capital projects during the dry season pending the approval of the 2016 Appropriation Bill.

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