The plea for extension was contained in a letter he sent to the senate on Tuesday in Abuja.
In the letter, Buhari said that the FCT Administration had only seven months to implement the budget which was signed in May 2015.
The president said numerous projects critical to the FCT were still pending, hence the need to extend the implementation of the budget.
“In order to meet its obligation and as permissible by the constitution, the FCT appropriation needed to be extended to March 31, 2016,” he said
“That would enable the FCTA make payments for various critical and essential ongoing projects.”
Meanwhile, the senate committee on banking and other financial institutions submitted its report on the abuse of the Treasury Single Account (TSA).
The report will be debated by the senate at a later date.
Also, the committee on ethics submitted its report on the petition against total exploration Nigeria Ltd., by some staff who were allegedly disengaged unlawful.
Other petitions submitted to the ethics committee chaired by Sam Anyanwu, included the petition against Kabir Marafa for allegedly misleading the public against the senate.
The Sam Anyanwu committee also submitted its report on a petition against Ibrahim Lamode, the former chairman of the Economic and Financial Crimes Commission (FCT), for alleged mismanagement of recovered looted funds.