By Terry Ikumi and Gloria Ume-Uzeoke
President Bola Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as 2023 supplementary budget.
The 2023 Supplementary Appropriation Bill expeditiously scaled second reading on Tuesday in the House of Representatives and the Senate as lawmakers said it is 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 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,
The President of the Senate, Godswill Akpabio, subsequently referred the request to a joint committee on Finance, Appropriations and National Planning and Economic Affairs to review and approve the proposed MTEF ahead of the commencement of the budget preparation.
Recently, the Senate passed N819bn making provision for a N500bn palliative package.
Tinubu said the supplementary bill has become necessary for additional palliative measures including wage awards. The Federal Executive Council (FEC) chaired by the President on Monday had approved the 2023 supplementary budget of N2.1 trillion.
On Tuesday, the Senate 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).
Senator Seriake Dickson appeared to have raised eyebrows at the huge expenditure dedicated to the defense. He highlighted that nearly a trillion being pumped into the sector should demand enhanced probe. Although he supported that the bill pass second reading, he suggested also that the relevant committees exercise proper oversight and demand proper accountability geared towards gauging the expected results.
Credit: Channels
