The Nigerian Senate on Wednesday, extended the implementation of the 2022 capital budget till March 31, 2023.
The extension is following the consideration and passage of a “bill for an Act to amend the 2022 Appropriation Act in order to extend the implementation year from 31st December 2022 to 31st March 2023 and for related matters, 2022.”
However, the Senate also suspended its standing order 70 to enable it read the Bill for the first, second and third time before its passage.
Senate leader, Ibrahim Gobir who sponsored the Executive Bill, said it became necessary to extend the implementation of the capital appropriation for in order to allow for the completion of ongoing projects.
Gobir, nontheless said the development followed a delay in the release of funds for the implementation of the capital component of the 2022 budget.