The House of Representatives has approved an additional ₦6.2 trillion in spending for the 2024 budget following President Bola Tinubu’s request to amend the 2024 Appropriations Act.
The amendment bill, introduced last week, quickly passed its second reading and was referred to the House Committee on Appropriations for further review.
The approval came after the committee’s chairman, Abubakar Bichi, presented a detailed report during the House plenary session on Tuesday.
President Tinubu had initially requested the budget amendment last Wednesday, proposing to increase the budget by ₦6.2 trillion. This request was made in a letter to Senate President Godswill Akpabio and read during a Senate plenary session.
In his letter, President Tinubu cited Section 58, sub-section two of the Nigerian Constitution, stating that the amendment was necessary to provide ₦3.2 trillion for Renewed Hope infrastructure projects and other critical infrastructure across the country.
Additionally, ₦3 trillion was allocated to meet further recurrent expenditure requirements for the proper operation of the Federal Government, funded by expected revenue.
“I forward herewith the above bills for consideration and passage by the Senate. The Appropriation Act Amendment Bill 2024 seeks to amend the principal Act to provide the sum of ₦3.2 trillion for Renewed Hope infrastructure projects and other critical infrastructure projects to be undertaken across the country. And the sum of ₦3 trillion to meet further recurrent expenditure requirements, necessary for the proper operation by the Federal Government expenditure, which is to be funded by expected revenue accruing to the Federal Government of Nigeria,” the letter read.
Post A Comment: