The House of Representatives has approved a bill seeking an extension for the implementation of the 2023 supplementary budget. This move came after President Bola Tinubu requested the National Assembly to extend the implementation period of the capital components of the 2023 supplementary budget from March to June 2024.
During the plenary session on Wednesday, the Speaker of the House of Representatives, Tajudeen Abbas, read President Tinubu’s letter outlining the request. The President emphasized that the extension had become necessary to ensure the full implementation of the provisions stipulated in the two acts.
In November 2023, President Tinubu signed the N2.17 trillion supplementary budget into law. Subsequently, he requested the National Assembly to extend the implementation period until March 31, 2024. However, the latest request seeks a further extension until June 2024.
Responding swiftly to the President’s appeal, the House of Representatives expeditiously passed the bill through all three readings. The bill was introduced and debated by the Chief Whip, Bello Kumo, who argued that granting the President’s request would be in the best interest of the country.
Kumo emphasized that extending the implementation period for the capital component of the budget would enable the government to fully execute the provisions outlined in the supplementary budget. The House of Representatives, recognizing the importance of ensuring the effective utilization of budgetary allocations, unanimously supported the bill.
By approving the extension, the House of Representatives has demonstrated its commitment to facilitating the successful implementation of the government’s fiscal policies and ensuring the timely execution of capital projects for the benefit of the nation.