Posted by Amarachi on Tue 18th Jun, 2024 - tori.ng
The supplementary budget, worth N6.6 trillion, is still being computed by the executive and will be sent to the National Assembly for consideration.
President Bola Ahmed Tinubu is expected to send the 2024 Supplementary budget to the Senate for approval after its resumption from recess on July 2.
The supplementary budget, worth N6.6 trillion, is still being computed by the executive and will be sent to the National Assembly for consideration.
According to the Senate spokesperson, Yemi Adaramodu, the budget will be sent to the legislators after the Sallah recess, and it is expected to be a top priority for the National Assembly when it resumes in July.
Adaramodu confirmed to The PUNCH that the budget size is N6.6 trillion, which will be used to fund four transformational projects identified by the President.
The Minister of Budget and Economic Planning, Senator Atiku Bagudu, had earlier revealed that the supplementary budget was still being prepared and would be spent on key infrastructure projects. These projects include the Lagos-Calabar Coastal Road, Sokoto-Badagri Road, and the completion of ongoing railway projects. Additionally, the budget will fund the rehabilitation and expansion of dams and irrigation schemes, as well as support for Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG).
The minister further noted, “The three roads, dams and irrigation, and railways is what Mr President designated as the infrastructure, renewed health infrastructure priority items.
“So, that is what he directed that the ministry prepare supplementary appropriation Bill.
“We have not finished work on the bill, we have not submitted the supplementary appropriation draft to the Federal Executive Council yet.
“So many people have approached the ministry and indeed leadership of the National Assembly, as well as many members, asking about the renewed hope the supplementary appropriation.”
President Bola Tinubu had earlier mentioned the supplementary budget during his May 29 speech to the joint sitting of the Senate and House of Representatives at the National Assembly complex.
He had hinted that the government would soon present the supplementary budget for the 2024 fiscal year.