Tuesday, 12 November, 2024

Tinubu signs N2.1 trillion supplementary 2023 budget


President Bola Tinubu has signed the N2.176 trillion Supplementary Appropriation Act to strengthen Nigeria’s security architecture and address Nigeria’s critical infrastructure deficit, amongst other considerations.

Tinubu signed the Supplementary Appropriation Act, 2023, in his office today in the presence of Senate President Godswill Akpabio; Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas; Secretary to the Government of the Federation, Sen. George Akume; Majority Leader of the Senate, Opeyemi Bamidele; the Chairmen of the Appropriation Committees in the Senate, Sen. Olamilekan Adeola, and the House of Representatives, Hon. Abubakar Bichi, as well as the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji.  

Tinubu signing the budget. Source: Aide.

Providing a breakdown of the supplementary budget, the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, said the newly approved expenditure for defence and security consists of about thirty percent, while thirty-five percent is dedicated to the provision of critical infrastructure to be allocated to the Federal Ministries of Works, the Federal Capital Territory, and Housing & Urban Development. 

ALSO READ: Nigeriaā€™s population remains great assetā€“ Tinubu 

The Minister further explained that thirty-two percent of the supplementary budget was allocated to the new Wage Award for treasury-paid federal workers to cushion the effect of the removal of fuel subsidy, in addition to cash transfers to vulnerable persons, and support to the Independent National Electoral Commission (INEC), amongst other considerations. 

President Tinubu commended the National Assembly for its expeditious consideration and approval, assuring Nigerians that the executive arm of government would ensure the judicious use of the budgeted resources.  


Discover more from News Round The Clock

Subscribe to get the latest posts sent to your email.

One comment on “Tinubu signs N2.1 trillion supplementary 2023 budget

Comments are closed for this post !!

Join The Conversation

Join Our Mailing List

Nigerian Wedding – Dolapo + Jide ā¤ļøšŸ’

GROCERIES CATEGORY

Premier League Table

The Super Eagles at the FIFA World Cup (1994-2018)

Follow NRTC on Twitter

Discover more from News Round The Clock

Subscribe now to keep reading and get access to the full archive.

Continue reading