FG extends tenure of 2016 Capital Budget

WITH seemingly unending spar between the legislative and executive arms of the Federal Government, 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.

Minister of Finance, Mrs. Kemi Adeosun has announced made this known on Thursday though a press statement issued by the ministry’s Director of Information, Alhaji Salisu Na’Inna Dambatta.

“Federal ministries, departments and agencies (MDAs) are hereby urged to take note of the content of the Circular”, the statement added.

So far, about N1 trillion of the N1.8 trillion 2016 capital budget has been released according to Adeosun.

Idris had earlier issued circular informing MDAs of government decision to end the 2016 financial year by the end of March, 2017 (today) even though the Appropriation Bill was signed into law on May 5, 2016.

The National Assembly had inserted a clause stipulating May 5, 2017 as the terminal date for the budget.

President Buhari also presented the 2017 Appropriation Bill to the National Assembly in December, 2016.

Both chambers of the National Assembly promised to ensure passage of the Bill by the end of March but early this week, both Senate President Bukola Saraki and House Speaker Yakubu Dogara were still calling on most committee chairmen to hasten the process of scrutinizing sectoral allocations and submit them to appropriation committees for presentation to plenary sittings.

However, during the week also, Senate declined to consider a list of Resident Electoral Commissioners presented to it by President Muhammadu Buhari following his refusal to remove Acting Chairman of Economic and Financial Crimes Commission (EFCC) Mr Ibrahim Magu and Secretary to Government of the Federation (SGF) Engr Babachir Lawal.

Members of the Red Chamber then resolved to stop collaborating with the executive until the President submits to their biddings.