Buhari Signs Act Extending Implementation Of 2015 Budget
SAN FRANCISCO, December 31, (THEWILL) – President Muhammadu Buhari has signed an Act of the National Assembly authorizing the Executive arm of government to extend the implementation of the Capital vote component in the 2015 budget beyond the last day of the year.
This was confirmed in a statement issued to journalists in Abuja on Thursday by the Senior Special Assistant to the President on National Assembly Matters ( Senate), Senator Ita Enang.
It would be recalled that the Senate had last Tuesday amended the 2015 Supplementary Appropriation Act to enable the Executive implement the N557bn Capital expenditure component in the 2015 Budget up to March next year.
The amendment was perfected at plenary shortly after the President presented the 2016 budget estimates to a joint session of the National Assembly.
Enang however explained that his clarification was necessitated by the pressure mounted on him by legislators, institutions and other concerned agencies who were bent on knowing the true status of the Act, that was forwarded to Buhari last week.
According to him, “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 of N556.9bn meant for Capital Expenditure in the 2015 budget from the Consolidated Revenue Fund to enable the appropriate government agencies execute massive infrastructural projects during the dry season.