Politics

Tinubu’s N2.17tn Supplementary Budget: The important numbers

Published

6 months ago

November 1, 2023

President Bola Tinubu, on Tuesday, submitted a N2.176 trillion 2023 supplementary budget proposal to the House of Representatives, in which certain areas got priority attention.

In a letter addressed to the House and read by the Speaker, Abbas Tajudeen, Tinubu said: “You will recall that the National Assembly recently passed, and I signed, a Supplementary Appropriation Act 2023 for a total of NGN819,500,000,000.00 (Eight Hundred and Nineteen Billion Five Hundred Million Naira) which, among other things, made provision for a recent critical economic policy decisions of the Federal Government.

“It has, however, become necessary to make further provision for additional palliative measures, including the wage award for public servants and the enhanced cash transfer program which is intended to benefit the most vulnerable members of our society.

“In addition, critical defense expenditures are also urgently required to provide for peace and the security of lives and property without which the government’s economic growth agenda cannot be achieved.

“Similarly, critical investments are also required to construct much needed infrastructure, particularly roads which projects must be commenced within the (dry season) period between now and the end of the year.

“Accordingly, another Supplementary Appropriation Bill for 2023 to cater for the expenditures identified above, totalling NGN2,176,791,256,033.00 (Two trillion, one hundred and seventy six billion, seven hundred and ninety one million, two hundred and fifty six thousand and thirty three naira) is hereby forwarded for the consideration of the National Assembly.”

Below are the important numbers in the document submitted by the president:

Defence – N476.543bn.
Works – N300bn
Agriculture and Food Security – N200bn.
Housing – N100 billion
FCT – N100bn
Police Commands – N50bn
Service Wide Votes – N615bn
Capital supplementation – N210bn
State House – N28bn.
DSS – N49bn
Office of the NSA – N29.7 bn
INEC – N18bn (for the conduct of the off-cycle governorship election in Bayelsa, Kogi and Imo states on November 11)

In a bid to fast tract the passage of the supplementary budget, it passed second reading at plenary session on Tuesday as the House through its Committees on Appropriation is expected to make its input preparatory to approval during the week or early next week.

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