Nigeria President Signs N2.17trn 2023 Supplementary Budget

Nigeria president had said the supplementary bill was necessary for additional palliative measures including wage awards.

President Bola Tinubu on Wednesday signed the 2023 Supplementary Budget N2.17trn at the Presidential Villa in Abuja.

Last Thursday, the Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading.

Before the passage of the bill, the Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola (APC, Ogun West).

The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of the country.

Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labour wage adjustments, security, and more.

The President had also sent the 2024-2026 Medium Term Expenditure Framework (MTEF) & Fiscal Strategy Paper to both chambers of the National Assembly,

Recently, the Senate passed N819bn making provision for a N500bn palliative package.

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 approved the 2023 supplementary budget of N2.1 trillion.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Politics

Oyo State Government To Present 2024 Budget Proposal To Oyo Assembly On Dec 5

Governor, ‘Seyi Makinde, set to present the 2024 Appropriation Bill to the state House of Assembly on Tuesday, 5th December, 2023. The governor is expected to present the budget proposal before the 32-member House of Assembly, accompanied by top government functionaries. It would be recalled that the state government held stakeholders’ consultative meetings on the […]

Read More
Politics

Presidency Backs CBN On Bank Recapitalisation

“To arrive at the $1 trillion economic destination, we believe that we must address the capital adequacy of our banks,” the President said. The Presidency has backed plan by the Central Bank of Nigeria (CBN) to increase the capital base of deposit money banks in the country. President Bola Tinubu, in a goodwill message at […]

Read More
Politics

Nigeria President To Present 2024 Budget Of N27.5 Trillion On Wednesday, Nov,29th

Tinubu will on Wednesday, November 29, present the 2024 budget to the National Assembly.  The Federal Executive Council earlier today November 27 approved the 2024 budget of N27.5 trillion. This followed the review of the Medium-Term Expenditure Framework earlier passed by the National Assembly which benchmarked the exchange rate at N700 to $1 and crude […]

Read More