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HomeBusiness2021 Budget: Capital Projects Implementation Execution Now End Of Q1-Reps

2021 Budget: Capital Projects Implementation Execution Now End Of Q1-Reps

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By Babajide Okeowo

The House of Representatives has assented to a request by the Minister of Finance, Zainab to extend the timeline of the implementation of capital projects in the 2020 budget by extending the deadline to the end of the first quarter of 2021.

Ahmed had on Tuesday written to the parliament to seek the extension of the timeline. However, the Speaker of the House, Hon. Femi Gbajabiamila had in his response to the request pointed out that the proposed amendment of the 2020 appropriation Act cannot be done by way of a motion but through an amendment Bill. He, therefore, directed that the request should be scheduled for the next legislative sitting on Wednesday.

The Bill titled, ”Bill for an Act to Amend the Appropriation Act, 2020 to Extend the Expiration Period of Capital Expenditure in the Act beyond 31 December 2020; and for Related Matters (HB.1194), was presented by the House leader, Hon. Alhassan Ado Doguwa at the plenary.

The House then resolved that the implementation of capital projects should end March 31, 2021, as against December 31, 2020.

In another development, the House also passed Finance Bill 2020 transmitted to the National Assembly only last week. The passage of the bill was a sequel to the consideration and adoption of a report laid by the Chairman House Committee on Finance, Hon. James Faleke.

It will also be recalled that President Muhammadu Buhari had in a letter dated 25th November 2020, which accompanied the Finance Bill said its passage would support the implementation of the 2021 budget through key reforms to specific taxation, customs, excise, fiscal and other laws.

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