According to President Muhammadu Buhari’s proposal, the budget implementation year for 2021 would be extended from December 2021 to March 2022, and the Senate has approved this request.
It was through a letter to Senate President Ahmad Lawan, who read it out loud at the outset of the plenary session on Tuesday, that the president made his wish known to the chamber.
Earlier this month, President Muhammadu Buhari requested that the 2021 budget be virement.
President Muhammadu Buhari requested an extension of the 2021 budget until March 2022, stating that the federal government is attempting to cover “important and urgent” demands that are outlined in the Appropriations Bill.
During his speech, Mr Buhari stated that his call for virement will boost the federal government’s efforts to “better the well-being of Nigerian citizens.”
It is anticipated that more cash will be required for some crucial and urgent line items in the 2021 budget presentation execution.
The Senate, in light of the foregoing, is urged to evaluate the virement suggestions in order to assist us in our efforts to promote the well-being of our population.”
Following the reading of the president’s letter, the lawmakers moved quickly to change the Appropriations bill for fiscal year 2021 to satisfy his request for additional funds.
Before granting the president’s request, the law was quickly read for the second and third times.
While the plenary session is still in progress,
The Finance Bill and the Fiscal Year 2022 Budget are expected to be passed today, before the legislature adjourns for the Christmas break.
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