All is not yet heard about the 2016 budget as the federal government has extended the implementation of its capital component from March 31 to May 5, or till the passage of the 2017 budget, whichever comes first.
According to a statement by the ministry of Finance, Idris Ahmed, accountant-general of the Federation, had issued a circular to all Ministries, Departments and Agencies, MDAs, of government to inform them of the extension.
The extension was granted to enable the MDAs to utilise the about N1trillion so far released for capital expenditure. Kemi
Adeosun, minister of Finance, earlier explained that the components of the releases included aggregate sum of N870.05 billion to the MDAs as of the end of February 2017, and additional releases of N65.39 billion.
Others are authority to incur expenditure, AIE, in February 2017 in the sum of N11.17 billion and an additional AIE worth N45.8 billion as of March 13, 2017.