…. Nigerian Senate passes 2023 supplementary Appropriation Bill.
The Nigerian Senate, on Thursday, passed the 2023 supplementary appropriation bill, extending its implementation period until December 31, 2024. This decision means that the 2023 supplementary budget will be executed concurrently with the 2024 budget, which amounts to N28.78 trillion.
The passage of the bill followed an emergency plenary session presided over by Senate President, Senator Godswill Obot Akpabio. This session was convened to address the urgent need for extending the implementation period of the 2023 supplementary budget.
The bill was sponsored by Senate Leader Michael Bamidele Opeyemi, who also represents the Ekiti Central Senatorial District. He advocated for the extension to ensure that ongoing projects could be completed without financial interruptions.
In his remarks, Senate President Godswill Akpabio expressed his gratitude to the Senators for their understanding and patriotism in supporting the bill. He emphasized the importance of the extension, highlighting that it would provide the executive branch with the necessary time and resources to complete all previously abandoned projects.
The extension of the 2023 supplementary appropriation bill is significant as it ensures continuity in the funding and execution of various government projects. By aligning the 2023 supplementary budget with the 2024 budget, the government aims to streamline its financial operations and enhance the efficiency of project implementation.
The 2024 budget, which stands at N28.78 trillion, is a substantial financial plan designed to address various economic and social challenges facing the country. By incorporating the 2023 supplementary budget into this plan, the government aims to create a more comprehensive and cohesive approach to fiscal management.
The decision to extend the 2023 supplementary budget was not made lightly. It involved careful consideration of the current economic situation and the need for continued investment in critical infrastructure and development projects. The Senate recognized the importance of maintaining momentum in these areas to drive economic growth and improve the quality of life for Nigerian citizens.
One of the key benefits of extending the 2023 supplementary budget is the ability to complete ongoing projects that might otherwise face delays or abandonment due to funding shortages. These projects, which range from infrastructure development to social programs, are crucial for the country’s progress and development.
The emergency plenary session, led by Senate President Akpabio, underscored the urgency of the situation and the commitment of the Senate to address it promptly. By passing the bill, the Senate demonstrated its dedication to ensuring that the government’s financial plans are effectively implemented.
Senate Leader Michael Bamidele Opeyemi, in sponsoring the bill, highlighted the need for continuity and stability in the execution of government projects. His advocacy for the extension was based on the recognition that many projects initiated under the 2023 supplementary budget were still in progress and required additional time for completion.
The extension of the 2023 supplementary appropriation bill is also a testament to the collaborative efforts between the legislative and executive branches of government. It reflects a shared commitment to the country’s development goals and the importance of working together to achieve them.
Recall, the passage of the 2023 supplementary appropriation bill extension by the Nigerian Senate marks a significant step in ensuring the continuity and completion of essential government projects. By aligning it with the 2024 budget, the government aims to create a more cohesive and effective approach to fiscal management.
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