- By Halimah Olamide
President Bola Tinubu on Wednesday signed into law the N2.17trillion supplementary budget.
NPO Reports that Tinubu had last week forwarded the supplementary budge to the National Assembly for its approval.
Present at the signing ceremony on Wednesday was the President of the Senate Godswill Akpabio; Speaker House of Representatives, Tajudeen Abbas, Secretary to the Government of the Federation, George Akume; Minister of Budget and Economic Planning, Atiku Bagudu; Chairman, Senate Committee on Appropriation, Solomon Olamilekan Adeola; Chairman, Federal Inland Revenue Service, Zacch Adedeji, Majority Leader of the Senate, Opeyemi Bamidele
Tinubu 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 into law at the Presidential Villa in Abuja.
President Tinubu had written to the National Assembly seeking approval of the sum of N2.17 trillion as the 2023 supplementary budget to address labour wage adjustments, security, and more.
The President 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.
In a statement released by the presidency, the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, while providing a breakdown of the supplementary budget, 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.
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.