President Bola Tinubu has asked the national assembly to
increase the 2024 appropriation act by N6.2 trillion.
Tinubu’s request was contained in a letter read by Senate
President Godswill Akpabio on the floor of the upper legislative chamber on
Wednesday.
This increases the 2024 budget to N34.9 trillion from an
initial N28. 7 trillion budget Tinubu signed into law on January 1.
In December, the national assembly passed the 2024
appropriation bill, increasing its size from N27.5 trillion proposed by Tinubu
to N28.7 trillion.
Tinubu is seeking an amendment to the budget to provide N3.2
trillion for infrastructure projects and N3 trillion for recurrent expenditure.
“Pursuant to section 58 (2) of the constitution of the
federal republic of Nigeria as amended, I forward herewith the above named
bills for consideration and passage by the senate,” Tinubu said.
“The appropriation act amendment bill seeks to amend the
principal act to provide the sum of N3,200,000,000,000 for Renewed Hope
Infrastructure Projects and other critical infrastructure projects to be
undertaken across the country and the sum of N3,000,000,000,000 to meet further
recurrent expenditure requirements necessary for the prosper operation of the
federal government.
“They shall be funded
by accruing to the federal government of Nigeria.”
BILL TO INCREASE 2024
BUDGET SCALES SECOND READING
The bill to increase the 2024 budget scaled the second
reading at the house of representatives.
This was after Tajudeen Abbas, speaker of the house, read
Tinubu’s request on the floor of the lower legislative chamber on Wednesday.
On May 29, Tinubu said he would send a 2024 supplementary
budget to the national assembly.
It is understood that the supplementary budget will cover the new minimum wage
proposed by the federal government.
The president is scheduled to meet the organised labour on Thursday
to finalise talks on the minimum wage.
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