DAILY TRUST
Thursday’s decision of the two chambers of the National Assembly to extend the implementation of the capital components of the 2023 main and supplementary budgets to December 31, 2024 is raising questions.
The extension followed the request by President Bola Ahmed Tinubu to both chambers of the National Assembly.
It would be recalled that the National Assembly, in December 2023, extended the implementation period of capital component of the budget for that fiscal year from December 31, 2023, to March 31, 2024. It similarly extended the lifespan of the N2.17 trillion 2023 Supplementary Budget, which was passed in November, 2023, following a request by President Tinubu.
Both the Senate and the House of Representatives further extended the implementation period for the budgetary appropriations from March 31, 2024, to June 30, 2024, on the 19th and the 20th March, this year, respectively, following another similar request from the president.
The request for another extension of the implementation of the capital component of the budget is coming a few days to the June 30 implementation deadline earlier approved by the National Assembly.
Again, the president is about to submit another supplementary budget to the parliament by next week.
Daily Trust Saturday reports that with the extension of the three other appropriation acts, Nigeria will have four budgets running concurrently.
Dust at House of Reps over multiple budgets
Unlike the seeming smooth sail at the Senate, which considered the president’s request after an executive session, Tinubu’s proposal caused a heated debate at the House of Representatives, forcing Speaker Abbas Tajudeen to move the House into an executive session before the lawmakers approved the request.
Earlier, the president’s letter requesting the extension of the implementation of the capital components of the budget was read by Speaker Tajudeen, after which the executive bills were introduced.
However, when the Leader of the House, Prof. Julius Ihonvbere moved for the second reading of the bills, the House Minority Leader, Kingsley Chinda, raised concerns over the request for extension of the two budgets.
Chinda, while voicing opposition against the request, said it will be morally wrong for the country to be running three to four budgets concurrently.
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