Politics, Sports, Business, Entertainment and News you will get nowhere else.

Ads Here

Thursday, 31 December 2015

Buhari signs 2015 budget implementation extension into law

President Muhammadu Buhari, has appended his signature to an Act of the National Assembly which authorised the executive to extend the implementation of the Capital vote component in the 2015 budget beyond December 31, 2015.
Senior Special Assistant to the President on National Assembly Matters ( Senate ), Senator Ita Enang, confirmed the development in a statement made available to journalists in Abuja on Thursday.

Enang explained that his clarification became necessary in view of the fact that legislators, institutions and other concerned agencies had been contacting him to know the true status of the Act, which was forwarded to Buhari last week.
He said, “Further to several enquires and calls by legislators, institutions et al on the subject, we deem it appropriate to issue this release.
“His Excellency, President Muhammadu Buhari, has assented to the 2015 appropriation amendment Act passed by the National Assembly on December 22, 2015, (extending the 2015 financial year to March 31st in respect of capital projects)”
The Act to amended the 2015 Supplementary Appropriation Act specifically authorised the issue from the Consolidated Revenue Fund of the Federation, N556.9bn meant for Capital Expenditure in the 2015 budget to enable the appropriate government agencies carry out massive infrastructural projects during the dry season.
The Senate had last on week Tuesday, amended the 2015 Supplementary Appropriation Act to enable the Executive arm of government, implement the N557bn Capital expenditure component in the 2015 Budget up to March next year.
The amendment was perfected at plenary shortly after President Muhammadu Buhari, presented the 2016 budget estimates to the joint session of the National Assembly.
Saraki,had explained that the essence of the ammendments was to allow the executive arm of government carry out execution of capital projects during the dry season pending the approval of the 2016 Appropriation Bill.


No comments:

Post a Comment

Comments made by readers of this blog are strictly the views of the writers and not that of Nedu Echianu's Blog.