NASS Okay Supplementary Budget, Re-Allocate N5bn Yacht To Student Loan
The Senate and the House of Representatives, on Thursday, 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.
President Bola 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 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.
Lawmakers on Tuesday began debate on the urgency of expediting the passage of the supplementary budget. The lawmakers identified the need to particularly enhance the critical needs of the people and emergency areas including infrastructure, insecurity, labour demands (N210bn wage award payment and N5.5bn student loan).
