N2.1trn Supplementary Appropriation Bill passes 2nd reading in Senate

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The 2023 Supplementary Appropriation Bill passed second reading on Tuesday in Senate.

This followed the request by President Bola Tinubu for approval of the sum of N2.1 trillion supplementary budget to tackle labour wage adjustments, and other urgent economic needs.

Leading the debate on the general principles of the bill, the Leader of the Senate, Opeyemi Bamidele said the bill sought to authorise the issue from the Consolidated Revenue Fund of the Federation the sum of N2,176,791,286,033 of which N18 billion only is for statutory transfers.

He said the supplementary budget would would make provision for N210 billion for payment of wage awards of N35, 000 to about 1.5 million federal workers.

Thee leader said the budget would also cater to N5.5 billion for students loan, N18 billion for the Independent National Electoral Commission (INEC) to facilitate the conduct of November 11 off-cycle election in Kogi, Bayelsa and Imo states.

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Bamidele also said the budget fund N 1billion takeoff grants of new ministries while N200 billion would go for capital supplementation to deal with urgent requests.

“Considering the state of insecurity in the country, our security and law enforcement agencies urgently need to procure additional equipment and other resources in response to the prevalent security challenges across the country.

” The Ministry of Defence has carefully scrutinised these procurement needs which the military authorities claim to represent the minimum requirements to secure our country and address current external and internal security challenges” he said.

In his remarks, President of the Senate, Godswill Akpabio, said the supplementary bill would help tackle inflation among others.

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