FG extends tenure of 2016 budget pending passage of 2017 Appropriation Bill

The tenure of 2016 budget has been extended by the Federal Government pending when the 2017 budget will be finally passed into law and signed by President Muhammadu Buhari.

This decision is coming on the heels of government failure to meet the set times to enact and sign the 2017 appropriation bill into law.

This extension however, is said to only cover capital components of the budget. The danger of this according to some analysts is that it may put the recurrent component, particularly personnel and overheads for running the federal offices in danger on the grounds of further delays at the National Assembly and the recent executive-legislative discords.

Salisu Na’Inna Dambatta, director of information at the Ministry of Finance, while disclosing this on Thursday said, “The Accountant-General of the Federation, Alhaji Idris Ahmed, has 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, whichever is the earliest.”

Senate President Bukola Saraki and Speaker House of Representatives, Yakubu Dogara, had engaged in a serious meeting also on Thursday to ensure they finalise issues on the budget proposal.

The 2017 budget sets out plans to pull the country’s economy out of its first recession in 25 years, which has been blamed on low global prices for the oil it produces and the impact of attacks on energy facilities in its Niger Delta oil hub in 2016.

President Muhammadu Buhari had on December 14, 2016, presented a budget of N7.289trillion to the joint session of the National Assembly.

As part of moves to pass the budget early, the Senate had after three days of debate on the general principles of the 2017 Appropriation Bill submitted by Buhari on Thursday, January 26, suspended plenary for three weeks to enable committees carry out a holistic work on the budget.

However, after more than three months, the bill is yet to be passed and signed into law by the President.

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