By Emeka Anaeto, Business Editor,  Emma Ujah & Henry Umoru

ABUJA—Amidst failed targets for enacting and signing the 2017 Appropriation Bill, the Federal Government has extended the tenure of 2016 budget until whenever 2017 budget is passed into law and signed by the President.

Speaker of the House of Representatives, Hon. Yakubu Dogara; Senate President, Dr. Bukola Saraki and President Muhammadu Buhari

This came on a day Senate President, Bukola Saraki, and Speaker of the House of Representatives, Yakubu Dogara, met for long hours to put finishing touches to 2017 budget.

However, this extension covers only capital component of the budget, a situation which may put the recurrent component, especially personnel and overheads for running the federal offices in danger at the backdrop of further delays at the National Assembly and the recent executive-legislative discords.

Director of Information at the Ministry of Finance, Salisu Na’Inna Dambatta, stated yesterday that “the Accountant-General of the Federation, Alhaji Idris Ahmed, has issued a circular extending the tenure of the Capital elements of the 2016 Budget until May 5, 2017 or the passage of the 2017 Budget, whichever is the earliest.”

Meanwhile, as part of moves to expedite action on the passage of the 2017 Appropriation Bill, Senate President Bukola Saraki and Speaker, House of Representatives, Yakubu Dogara have engaged in a marathon meeting to put finishing touches to the budget.