From Kenneth Udeh, Abuja
The Senate on Thursday approved President Bola Tinubu’s request for a supplementary budget of N2.17 trillion for the economy. The President’s request was first read on the floor of the Senate on Tuesday October 31st. Tinubu in his letter explained to the Lawmakers that the supplementary budget would support the provisional wage of N35,000 to workers, costing the federal government N210 billion and N400 billion as cash transfers to vulnerable Nigerians.
Considering Tinubu’s request on Thursday,the Senate presided by Senate President Godswill Akpabio received the harmonised report of the Senate and House of Representatives committees on Appropriations on the 2023 supplementary bill presented by the Chairman the Senate committee on Appropriations, Senator Solomon Adeola (Ogun West).
Thereafter the Senate dissolved into the committee on supply to enable it consider the report of the committee.
Earlier in his presentation Solomon told the Senators that the supplementary budget is a sum of Two Trillion, One Hundred and Seventy-Six Billion, Seven Hundred and Ninety-One Million, Two Hundred and Eighty-Six Thousand and Thirty-Three Naira (N2,176,791,286,033).
The Government Ministries Departments and Agencies involved in the Supplementary Appropriation request are: Independent National Electoral Commission (INEC); Ministry of Defence; Police Formations and Command; Office of the National Security Adviser; Department of State Services; Federal Ministry of Agriculture and Food Security; Ministry of Works; Ministry of Housing and Federal Capital Territory Administration.
Furthermore Solomon said that the sum will among others provide for additional palliative measures, including the Wage Award for Public Servants; The enhanced Cash Transfer Programme which is intended to benefit and the most vulnerable members of the society; Provide additional funds for critical defence expenditures urgently required for peace and the security of lives and property, without which the government economic growth agenda cannot be achieved; and Critical investments in roads infrastructure, which projects must commence within the dry season (November — December, 2023).
Solomon reported that the committee in its recommended the authorization of the sum requested by the President (N2.17 Trillion) from the Consolidated Revenue Fund of the Federation which is the aggregate of =N= 2,176,791,286,033 (Two Trillion, One Hundred and Seventy-Six Billion, Seven Hundred and Ninety-One Million, Two Hundred and Eighty-Six Thousand, Thirty-Three Naira) only, of which =N=18,000,000,000 (Eighteen Billion Naira) only is for Statutory Transfers, =N=1,033,471,162,373 (One Trillion, Thirty-Three Billion, Four Hundred and Seventy-One Million, One Hundred and Sixty-Two Thousand, Three Hundred and Seventy-Three Naira) only is for Recurrent (Non-Debt) Expenditure while the sum_ of =N=1,125,320,123,660 (One Trillion, One Hundred and Twenty-Five Billion, Three Hundred and Twenty Million, One Hundred and TwentyThree Thousand, Six Hundred and Sixty Naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on the 31st day of December, 2023.
The Senate in its clause by clause consideration approved the amount requested by all the MDAs after which it was ratified by the Lawmakers via voice notes when it reverted to plenary.
With this approval by the National Assembly, the 2023 budget, which was the last appropriation bill of the administration of former President Muhammadu Buhari, will rise to N28.17 trillion.