FG seeks review of 2020 budget to complete capital projects

Barely two weeks to the end of this fiscal year, the Federal Government has written to National Assembly seeking a review of the 2020 appropriation act.

The review will enable the FG to complete this year’s capital projects and avert returning unspends funds for such projects to the treasury.

The letter was written on Tuesday by the Minister of Finance, Budget and National Planning, Zainab Ahmed.

The National Assembly had returned the country to a January-December budget cycle with the 2020 appropriation act, making this year’s budget to expire on December 31, 2020.

Ahmed is asking for an extension of the expiration date of the capital component of 2020 budget.

She explained that extending the expiration date would enable Federal Government to carry on with the implementation of the capital components of the budget beyond December 31, 2020.

Ahmed also cited difficulties in obtaining certificates of no objection from Bureau for Public Procurement (BPP) and the slowdown in implementation of capital projects by ministries, departments and agencies (MDAs).

Majority leader of the House of Representatives, Alhassan Ado-Doguwa said if the date was not extended, the government would have to mop up all the funds meant for capital projects in 2020 budget and return same to government’s treasury.

Doguwa warned that such would not be in the best interest of Nigerians.

He said the advantage of extending this was that capital projects execution would help boost the economy and speed up recovery from current recession.

In his ruling, Speaker of the House, Femi Gbajabiamila, said the amendment would not be initiated with a motion but a bill.

He asked Doguwa and chairman of the house committee on rules and business to come up with a bill to amend the 2020 appropriation act and schedule the first, second and third readings for Wednesday, as the National Assembly plans to go on recess on Thursday.