Home Business Economy 2023 supplementary budget: Senate extends implementation to 31 Dec

2023 supplementary budget: Senate extends implementation to 31 Dec

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The Senate has extended the life cycle of the 2023 supplementary budget from 30 June to 31 December 2024.

The upper chamber of the National Assembly on Thursday suspended all its rules and gave an expeditious passage to a bill seeking the extension in less than 20 minutes.

Earlier before the passage of the bill, the lawmakers went into a closed-door session for two hours.

In December 2023, both chambers of the National Assembly (the other being the House of Representatives) extended the implementation period for the capital component of the budget from 31 December 2023, to 31 March 2024, along with the N2.17 trillion 2023 supplementary budget passed in November 2023.

Earlier in March, following requests made by President Bola Tinubu, both the Senate and the House of Representatives extended the implementation period for the budgetary appropriations from 31 March 2024, to 30 June 2024.

With just four days remaining until the 30 June 2024, deadline for the affected 2023 budgetary appropriations, the two chambers cut short their recess to hold separate sessions for Thursday (today) to consider further extensions ahead of their previously set resumption date of 2 July 2024.

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