The Nigerian senate yesterday disclosed that the 2016 budget will expire midnight May 5, 2017.
Chairman, Senate Committee on Appropriation, Senator Mohammed Danjuma Goje, made this known yesterday in Abuja.
Senator Goje who quoted from the Appropriation Act, said: “In line with the provision of Section 318 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) the bill (2016 Appropriation Bill) will run for a course of 12 months starting from the date it is assented into law.”
He said since the2016 Appropriation Bill was assented to on May 6th 2016, it would expire at midnight May 5th, 2017.
He said the clarification became necessary following questions about the status of the 2016 budget.
He noted that the National Assembly carefully created the clause to foreclose any unnecessary anxiety about the duration of the 2016 budget.
Senator Goje said, “As far as the Bill that was signed into law by Mr. President is concerned, there will be no mop up on 31st March 2017 since the validity period for the 2016 budget is midnight May 5th, 2017.
“If that is done, it will be a violation of the Act. We carefully created the clause that made provision for May 5,th 2017. The Act says that the 2016 budget will run for 12 months starting from the date the bill was assented to and it was assented to on May 6th 2016.
The lawmaker assured that before the life of the 2016 budget expires, the 2017 budget would have been passed by the National Assembly.
He said, “It is necessary for Nigerians to know that there should be no anxiety about mop up of funds by March 31st. We do not have to extend the 2016 budget. If May comes and there is need to extend, thn we can do otherwise.
I believe before that date the 2017 budget must have been passed. We don’t have to do any extension because we have taken care of that. Therefore no anxiety, no mopping up of funds before 12 months period.