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FG EXTENDS 2016 BUDGET PENDING 2017 APPROPRIATION BILL PASSAGE

(Last Updated On: March 31, 2017)

 

By Gbenga Gbelee

The Federal Government says it will continue with the implementation of the 2016 budget

until when the 2017 budget will be finally passed into law by the National Assembly and

assented to by President Muhammadu Buhari.

This decision came on the heels of the inability of both the senate and the presidency to meet

the time set for the budget defence by various MDAs of government and to enact and sign the

2017 appropriation bill into law.

The director of information, Federal Ministry of Finance, Alhaji Salisu Na’Inna Dambatta

disclosed this on Thursday during which he also cleared that the budget extension will only

cover capital components of the budget.

Alhaji Salisu Na’Inna Dambatta said the Accountant-General of the Federation, Alhaji Idris

Ahmed, had earlier issued a circular extending the tenure of the Capital elements of the 2016

Budget until May 5, 2017 or the passage of the 2017 Budget.

Financial and Economic analysts however warned about the danger such budget extension

might pose to the recurrent component.

They said personnel and overheads for running the federal offices would bein danger on the

grounds of further delays at the National Assembly and the recent executive-legislative

discords.

Senate President, Dr. Bukola Saraki and Speaker House of Representatives,Hon. Yakubu

Dogara, had engaged in a serious deliberations also on Thursday to ensure they finalise issues

on the budget proposal.