National Assembly extends 2020 budget by one quarter
The Senate on Wednesday, extended the life-span of 2020 by about three months to facilitate the capital budget of the 2020 Appropriation bill.
The Senate passed the extension of the 2020 Appropriation Bill through first and second reading at Wednesday plenary.
The Senate Order Paper for Wednesday reads in part: “A Bill for an Act to amend the Appropriation Act 2020 in order to extend the implementation the capital aspect of the budget to from 31st December 2020 to 31st march, 2021 or, until the coming into force of the 2021 Appropriation Act, whichever occurs earlier and for related matters, 2020 (SB. 612) Second reading.”
Both bills are sponsored by the Senate Majority Leader Senate, Sen. Abdullahi, Yahaya Abubakar (Kebbi North)
In the debate, for the second reading, senators observed that the impact of Covid 19 had impacted in the capital aspect of budget implementation leading to a situation where some agencies have up to 70 per cent of their capital expenditure touched.
They, therefore, called for extension of the capital budget to enable ministries department and agencies to spend their unexpended capital budget to provide value for money to Nigerians whose livelihood can be improved by these expenses and projects.
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