National Assembly approves N2.176trn 2023 supplementary budget

The N2.176 trillion 2023 supplementary budget that President Bola Ahmed Tinubu submitted to the legislature on Tuesday has been approved by the National Assembly.

The budget was approved on Thursday, following the Senate’s adoption of an Appropriations Committee report, which was delivered in plenary by the committee’s chairman, Senator Adeola Olamilekan (Ogun West).

President Tinubu had, in a letter read in both chambers, asked the federal lawmakers to approved the proposal, the second of such this year after N819.5 billion was approved to provide palliatives for poor Nigerians.

The president, in his letter, said it had become necessary to make further provision for additional palliative measures, including the wage award for public servants and the enhanced Cash Transfer Programme which is intended to benefit the most vulnerable members of society.

READ ALSO:Protesters storm NASS, warns Senate against confirmation of Olukoyede as EFCC Chair

Tinubu had said the supplementary bill was necessary for additional palliative measures including wage awards. The Federal Executive Council (FEC) chaired by the President on Monday had approved the 2023 supplementary budget of N2.1 trillion.

Lawmakers on Tuesday began debate on the urgency of expediting the passage of the supplementary budget. The lawmakers identified the need to particularly enhance the critical needs of the people and emergency areas including infrastructure, insecurity, labour demands (N210bn wage award payment and (N5.5bn student loan).

The detail of the 2023 supplementary budget indicate that while N1.010.802,015,985 was for Recurrent expenditure, N1.165,989,270,049 is to be spent on Capital expenditure.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now