Both chambers of the National Assembly have passed, for a second reading, President Bola Tinubu’s request for the approval of a N2.1 trillion supplementary appropriation bill. President Tinubu specifically sought the National Assembly’s approval for a supplementary appropriation bill of N2,176,791,286,033. This supplementary budget aims to address labor wage adjustments, security concerns, and other issues.
The bill authorizes the issue of N2,176,791,286,033 from the Consolidated Revenue Fund of the Federation, with allocations for various purposes, including statutory transfers, recurrent (non-debt) expenditures, capital expenditure contributions, wage awards, cash transfers to vulnerable households, agricultural inputs, and more.
Additionally, the supplementary budget proposes expenditures for various purposes, including the procurement of vehicles for the State House, infrastructure maintenance, and the digitalization of the State House. The bill’s approval is essential for addressing current challenges, including security, agriculture, and infrastructure needs. Several senators commended the federal government’s proactive approach to addressing pressing issues through this supplementary budget.
Senate President Godswill Akpabio expressed appreciation for the bill, which aims to address inflation, labor, students, and infrastructure development.