Connect with us


Tinubu signs N2.17trn 2023 supplementary budget into law



Tinubu signs N2.17trn 2023 supplementary budget into law

President Bola Tinubu has signed the N2.176 trillion Supplementary Appropriation Act to law.


The ceremony was conducted on Wednesday at the State House in Abuja.


According to a statement from the president’s media office, the Act is to strengthen Nigeria’s security architecture and address the country’s critical infrastructure.


Part of the statement signed by Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, read:

“The President signed the Supplementary Appropriation Act, 2023, in his office at the State House in the presence of Senate President Godswill Akpabio; Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas; Secretary to the Government of the Federation, Sen. George Akume; Majority Leader of the Senate, Opeyemi Bamidele; the Chairmen of the Appropriation Committees in the Senate, Sen. Olamilekan Adeola, and the House of Representatives, Hon. Abubakar Bichi, as well as the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji.”


According to the statement the Minister of Budget and Economic Planning, Abubakar Bagudu provided a breakdown of the Budget saying 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”, the statement further said.


The president commended the legislature for expediting action on the budget and assured Nigerians that his government will ensure its prompt implementation.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *