The 2023 Supplementary Appropriation Bill expeditiously scaled second reading on Tuesday in the House of Representatives as lawmakers said it is for the benefit of the country.
President Bola Tinubu had written the House 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 & Fiscal Strategy Paper to the House of Representatives.
Also Read: 2023: FEC Approves N2.2tn Supplementary Budget
On Monday, the Federal Executive Council (FEC) had approved the 2023 supplementary budget of N2.1 trillion.
While speaking after the FEC meeting in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, said the budget is to fund urgent issues.
“The council considered a request for supplementary appropriation which is a second for 2023,” he said at the State House in Abuja.
“And graciously approved the sum of N2,176,791,286,033 as supplementary budget and this supplementary budget is to fund urgent issues including N605 billion for national defence and security.
“This is to sustain the gains made in security and to accelerate and these are funds that are needed by the security agencies before the year runs out.”
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : EconomicConfidential – https://economicconfidential.com/2023/10/supplementary-appropriation-bill/
