The Senate Tuesday extended the implementation year of the 2021 Appropriation Act from March 31 to May 31, following the consideration of a bill to amend the fiscal act.
Leading debate on the bill, Senate Leader, Senator Yahaya Abdullahi (APC, Kebbi), recalled that the 2021 Appropriation Act was earlier amended to extend the implementation year from December 31 to March 31.
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Abdullahi explained that the extension of the budget period became imperative in view of the need to complete ongoing projects nearing completion.
He said, “As you are aware, the 2021 virement of the aggregate sum of N276 billion was approved for several MDAs by the National Assembly in December 2021 along with 100 per cent release of the 2021 capital budget of the MDAs.
“A significant portion of the releases to the MDAs has been utilized following the extension to 31st March 2022.
“In view of the critical importance of some key projects nearing completion, it is expedient to grant further extension of the expiration clause to avoid compounding the problem of abandoned projects given that some of the projects were not provided for in the 2022 budget hence the need to extend the implementation year form 31 March 2022 to 31st May 2022.”
The bill to amend the 2021 Appropriation Act was, thereafter, passed sequel to its consideration by the committee on supply.
