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Senate extends 2023 supplementary budget implementation


The Senate has passed legislation to prolong the validity of the 2023 supplementary budget until December 31, 2024, extending it from its original deadline of June 30.

This extension means the 2023 supplementary budget will run alongside the 2024 budget, which stands at N28.78 trillion.

On Thursday, the Senate suspended its rules to quickly pass the bill in less than 20 minutes. Before passing the bill, lawmakers held a closed-door session for two hours.

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Previously, in December 2023, the National Assembly extended the implementation period for the capital component of the budget from December 31, 2023, to March 31, 2024, including the N2.17 trillion 2023 supplementary budget passed in November 2023. In March, following requests from President Bola Tinubu, the Senate and the House of Representatives further extended the budget implementation period to June 30, 2024.

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With only four days remaining until the June 30, 2024, deadline, both chambers cut short their recess to hold emergency sessions on Thursday, ahead of their scheduled resumption on July 2, 2024.

The emergency plenary was presided over by the President of the Senate, Senator Godswill Akpabio. After a clause-by-clause consideration of the bill, it was read a third time and passed.

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The 2023 supplementary budget bill, sponsored by Senate Leader Senator Opeyemi Bamidele (APC, Ekiti Central), aimed to extend its implementation period.

Senate President Godswill Akpabio thanked the Senators for their understanding and patriotism, expressing his belief that the extension would allow the executive to complete all abandoned projects.