Buhari signs law to extend lifespan of 2015 budget

Posted by News Express | 1 January 2016 | 3,130 times

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President Muhammadu Buhari, has signed an amendment to the 2015 budget act which authorised the executive to extend the implementation of the Capital vote component in the act beyond December 31.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, confirmed this in a statement 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.

“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 31, 2016 in respect of capital projects.”

“The Act to amend 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 on December 22, amended the 2015 Supplementary Appropriation Act to enable the Executive arm of government, to implement the N557 billion 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. (NAN)

•Photo shows President Buhari

 


Source: News Express

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