President Tinubu’s Proposal Gets Green Light for Additional Palliatives and Critical Expenditures
In a crucial move during Thursday’s session, the Nigerian Senate gave its nod to the N2.176 trillion 2023 supplementary budget presented by President Bola Ahmed Tinubu earlier in the week.
The approval came after the Senate Appropriations Committee, led by Chairman Senator Adeola Olamilekan (Ogun West), presented and adopted a comprehensive report on the supplementary budget during the plenary session.
President Tinubu had formally transmitted the budget proposal to the National Assembly on Tuesday, emphasizing the necessity of additional provisions for palliative measures. This marks the second supplementary budget approval this year, with a previous one of N819.5 billion dedicated to providing relief for economically disadvantaged Nigerians.
In his letter to the federal lawmakers, President Tinubu underscored the urgency of the supplementary budget, stating, “It has become necessary to make further provision for additional palliative measures, including the wage award for public servants and the enhanced Cash Transfer Programme, which is intended to benefit the most vulnerable members of society.”
He continued, “In addition, critical defence expenditures are also urgently required to provide for peace and the security of lives and property without which the government’s economic growth agenda cannot be achieved. Similarly, critical investments are also required to construct much-needed infrastructure, particularly roads, which projects must be commenced within the (dry season) period between now and the end of the year.”
A breakdown of the 2023 Supplementary budget reveals that N1.010.802,015,985 is allocated for Recurrent expenditure, while N1.165,989,270,049 is designated for Capital expenditure. Further details on the budget are expected to be disclosed in subsequent reports.
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