House of Representatives Extends Capital Budget Implementation Deadline to March 31, 2024

The House of Representatives has approved an extension of the deadline for the capital component of the 2023 budget from December 31, 2023, to March 31, 2024. The decision was reached following the passage of the Appropriation (Amendment) Bill, 2023, and the Supplementary Appropriation Act, 2022 (Amendment) Bill, 2023, during Thursday’s plenary session.

Both bills underwent a swift legislative process, including the second reading, committee of supply consideration chaired by Deputy Speaker Benjamin Kalu, and the third reading for final passage. The Appropriation amendment bill modifies Section 12 of the Principal Act, changing the deadline for capital project spending to March 31, 2024, from December 31, 2023. Similarly, the Supplementary Appropriation amendment bill amends Section 1 of the Principal Act, extending the spending deadline outlined in the Supplementary Appropriation Act, 2023, to March 31, 2024, from December 31, 2023.

In a separate decision, the House has adjourned plenary sessions until Saturday, December 30, for the official passage of the 2024 Appropriation Bill, adhering to the January-to-December budget cycle. Speaker Abbas Tajudeen announced the December 30th passage date on Tuesday, emphasizing that committees have three weeks to conclude budget defense sessions with ministries, departments, and agencies. The intervening period will be utilized for budget compilation, processing, and harmonization.

“Saturday, December 30th, would be the day that we officially pass the budget 2024,” Speaker Tajudeen stated, urging those planning to take a Christmas break to make a note of the scheduled passage date.

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