• Contact Us
  • About Us
Thursday, July 31, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Economy

NASS may pass 2017 Budget before May, as 2016 budget  ends May 5, 2017

metro by metro
March 28, 2017
in Economy
0
Senate
0
SHARES
0
VIEWS
Chairman, Senate Committee on Appropriations, Danjuma Goje, said on Monday that the 2017 budget may be passed before May 2017.
This comes as the Senate has disclosed that the lifespan of the 2016 budget would end on May 5, 2017.
Goje’s confirmation of the 2017 budget passage is contrary to the March 30 deadline given by Senate President Bukola Saraki.
The Appropriations Committee chairman warned heads of Ministries, Departments and Agencies (MDAs) to desist from the practice of “mopping up” of  funds at the end of March, 2017 stating that there was no reason for that.
Speaking to journalists at the National Assembly on Monday, Goje said the National Assembly maybe compelled to extend the validity period of the budget, in the event that  it is unable to pass the 2017 Appropriation Bill on or before the midnight of 5th of May, 2017.
He explained: “Last year, when we were producing this 2016 Appropriation Bill, we realized that at the end of each year, there were usually requests for an extension of the budget from the executive. To avoid that, we decided to incorporate this new thing.
“In the 2016 Appropriation Act, which President Muhammadu Buhari signed into law, clause 11 of it says that “in line with the provisions of Section 318 of the Constitution of the Federal Republic of Nigeria 1999, as amended, this bill will run for a period of 12 months, starting from the day it is assented into law.
“President Buhari signed this bill into law on the 6th of May, 2016. This means this budget will run from that date up to the midnight of 5th of May, 2017. Unless of course if the Act is amended or altered as deemed fit by the National Assembly.
“As far as the law is concerned, there is no need for any extension or mop up by Ministries, Departments and Agencies (MDAs). The mop they usually do will now be illegal. Except the National Assembly, in conjunction with the executive, amend this law, this is the position of the 2016 budget.
“We do not have to extend the 2016 budget. If May comes and there is need to extend, then we can do otherwise. I believe before that date, the 2017 budget will be passed. For now, this is the position of the law.”
Forty-four (44) of out 68 committees in the upper legislative chamber are yet to defend their budget proposals before the Appropriations Committee.
The sub-committees that have not yet defended their 2017 budget before the Committee on Appropriations include: Capital Markets;  Industries; Gas; Airforce; Army; Anti-Corruption and Financial Crimes; Communications; Co-operation and Integration in Africa and NEPAD; Culture and Tourism; Defence; Petroleum Upstream; Petroleum Downstream; Ecology and Climate Change and Environment.
Others are Federal Capital Territory; Federal Roads Maintenance Agency; Finance; Foreign Affairs; Health; Housing; ICT and Cyber-Crimes; Independent National Electoral Commission (INEC); Information and National Orientation; Land Transport; National Identity and National Population; National Planning; National Security and Intelligence; Navy; Niger Delta; Police Affairs; Power, Steel Development and Metallurgy and Poverty Alleviation and Social Welfare.
Other Committees include Works;  Public Accounts; Primary Health Care and Communicable Diseases; Science and Technology; Sustainable Development, SDGs; Solid Minerals; Special Duties; Sports and Youth Development; States and Local Governments; Tertiary Institutions and TETFUND; Water Resources and Women Affairs.

Read Also

Dollar In Historic First Monthly Gain For 2025 As Fed In No Hurry To Ease Rates

Nigeria, Other African Central Banks’ Rush For Gold May Face Liquidity, Price Risks, Says Fitch

Odds Against Nigeria’s $1 Trillion Economy Ambition

Previous Post

Indian police arrest five for attacking Nigerian students

Next Post

2017 budget: Saraki gives Thursday deadline for submission of budget report by sub-committees

Related Posts

Dollars
Economy

Dollar In Historic First Monthly Gain For 2025 As Fed In No Hurry To Ease Rates

July 31, 2025
Nigeria, Other African Central Banks’ Rush For Gold May Face Liquidity, Price Risks, Says Fitch
Economy

Nigeria, Other African Central Banks’ Rush For Gold May Face Liquidity, Price Risks, Says Fitch

July 31, 2025
FG To Start Paying Debt Service As Nigerian Economy Grows By 2.99% In Q1 2024-Edun
Economy

Odds Against Nigeria’s $1 Trillion Economy Ambition

July 28, 2025
Uneasy Calm In Banking Industry Over FG Special Investigator’s Report
Economy

CBN Survey Shows High Interest Rates Beat Insecurity, Power Among Hindrances To Business Expansion, Profitability 

July 24, 2025
Next Post

2017 budget: Saraki gives Thursday deadline for submission of budget report by sub-committees

Asian Stocks Slide On Weak China Data, Plunging Copper Prices

Asian Stocks Slide On Weak China Data, Plunging Copper Prices

July 31, 2025
Dollars

Dollar In Historic First Monthly Gain For 2025 As Fed In No Hurry To Ease Rates

July 31, 2025
Canada Plans To Recognize Palestinian State, Raising Allies’ Pressure On Israel

Canada Plans To Recognize Palestinian State, Raising Allies’ Pressure On Israel

July 31, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version