The 2014 budget year has been not been extended to the end of March 2015 but as scheduled, comes to a close at midnight tomorrow, December 31, 2014.

The Budget Office of the Federation made this clarification this evening while reacting to a newspaper story claiming that the budget year has been extended to next March.

“Contrary to the impression given by the story, an extension of the budget year is not the prerogative of the Budget Office of the Federation,” said Mr. Francis Ojiah, Director of Administration in the Budget Office of the Federation.

Ojiah in a statement in Abuja reiterated that the budget year “has its own processes and procedures which require Executive and Legislative action.”

“I wish to stress that an extension of the budget year has neither been contemplated nor discussed by the Executive Branch, and the public should ignore the story,” he added.

•Photo shows DG Budget, Dr. Bright Okogu.