N2.176tr Supplementary Budget Passes 2nd Reading

By Oduyemi Odumade

The President, Bola Ahmed Tinubu had sent a letter requesting review and approval, along with the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP).

The title of the 2023 Supplementary budget Bill is “A Bill for an Act to authorize the issuance of N2,176,791,286,033 from the Consolidated Revenue Fund of the Federation.

Of this amount, N18 billion is allocated for Statutory transfers, N992.8billion designated for Recurrent (non-debt) expenditure, and N1.16trillion is allocated for the Development Fund for Capital Expenditure until December 31, 2023 (HB. 765) – Second Reading.”

The House Leader, Prof Julius Ihonvbere, presented the Bill for the second reading, and the House passed it after a voice vote conducted by Speaker Dr Abbas Tajuddeen.

Edited By Grace Namiji