BREAKING: Senate decides to extends implementation of 2023 supplementary budget to Dec 31

The 2023 supplemental budget's life cycle has been extended by the Senate from June 30 to December 31, 2024.

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On Thursday, the Red Chamber suspended all norms and expeditiously passed a bill requesting the extension in just twenty minutes.

The lawmakers had a two-hour closed-door meeting before to the bill’s passage.
Along with the N2.17 trillion 2023 supplemental budget approved in November 2023, both Chambers of the National Assembly extended in December 2023 the implementation time for the capital component of the budget from December 31, 2023 to March 31, 2024.

The budgeted appropriations’ implementation term was extended by the Senate and the House of Representatives from March 31, 2024, to June 30, 2024, in response to demands made by President Bola Tinubu earlier in March.

In order to discuss additional extensions before their previously scheduled resuming date of July 2, 2024, the two chambers ended their recess on Thursday, June 30, 2024, with just four days left before the deadline for the affected 2023 fiscal appropriations.

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