OrderPaperToday – President of the Senate, Ahmad Lawan, has said the National Assembly will no longer accept any request from the Executive seeking extension of the capital aspects of the 2020 budget.
He stated this after the upper chamber passed the 2021 budget on Monday during plenary.
Recall that on December 16, the chamber approved the extension of the 2020 budget for Ministries, Departments and Agencies (MDAs) to meet up with their capital expenditure which was disrupted as result of the Covid-19 pandemic.
The capital implementation of the 2020 budget will last till 31st March, 2021.
“I want to urge the executive arm of government, first to ensure that they implement the 2020 budget that will last up till 31st March, 2021.
“There will be no extension after 31st March. Everyone must be on their toes in the Ministries, Departments and Agencies to ensure they implement the budget 2020.
“And for 2021, we have to do everything and anything possible to ensure that we implement the budget like we tried to do in 2020.
“I believe that the economy of Nigerians will receive the right kind of boost from the implementation of the two budgets,” Lawan said.
According to him, the two budgets (2020 and 2021) running simultaneously would guarantee sufficient injection of funds into Nigeria’s economy.
“For Nigerians, this budget that has been passed in the National Assembly today, is to ensure that the economy is supported fully through public expenditure, because the economy of our country depends largely on public expenditure.
“The budget extension period for implementation which we did last year, is to ensure that the funds that are available for 2020 are not lost.
“So, there will be two budgets running; funds from 1st January, 2021, up to 31st March, 2021; and then the implementation of the 2021 budget itself to start from January. That is absolute fight against the recession we are suffering from.
“With a projected 3 percent growth in our Gross Domestic Product (GDP) in the 2021 budget, we believe that the recession which Nigeria is in will be over before the end of the first quarter”, he said.