The Nigerian Senate has approved the N2trillion 2023 Supplementary budget despite wide concerns around the spending plan which contains provisions for the acquisition of a presidential yacht and a substantial amount for funding luxury vehicles for the office of the First Lady which is not constitutionally recognized.
President Bola Tinubu, in a letter on Tuesday, urged the Senate to give the Supplementary Appropriation Bill 2023 expeditious consideration to enable the government to embark on urgent national issues.
The Senate led by Godswill Akpabio passed for bill after considering the harmonized report of the Senate and House Committee on Appropriation presented on the floor of the Senate on Thursday by chairman of the committee Solomon Adeola, Senator representing Ogun West.
Read also: Presidential yacht, luxury cars in extra budget draw flak
The bill scaled third reading and was subsequently passed by the Senate.
“The Committee recommends the authorization of the issuance of the consolidated revenue fund of the federation, the aggregate sum of N2, 176,791, 286.003 only”, Adeola said.
The budget as approved by the Senate includes the widely criticized N2.9 billion for sport utility vehicles for the Presidential Villa and another N2.9 billion for the replacement of operational vehicles for the presidency.
In summary, the budget includes 18 billion for statutory transfer which is meant for the Independent National Electoral Commission, N1. 33 trillion for recurrent and non-debt expenditures. N1.1 trillion for contribution to development fund and capital expenditure in the year ending on the 31st day of December 2023.
Read also: Service Chiefs, others storm Reps to defend N2.17trn supplementary budget
Adeola noted that the National Assembly had, a few months ago, approved the total of N819.5 billion presented by the president which amongst other things was for the provision of a N500 billion palliative package to cushion the effects of the recent economic policies of the Federal Government.
Fundamentally, the bill seeks to provide additional palliative measures including the Wages and rewards of public servants, the cash transfer program for the most vulnerable, and additional funds for critical defense expenditure urgently required to ensure peace and lives of security.
It also provides for critical investment in road infrastructure which, the Committee chairman said must commence within the dry season of November and December.
The benefiting agencies also include the Ministry of Defence; Police Formation and Command; Office of the National Security Adviser; The Department of State Security Services; The Federal Ministry of Agriculture and Food Security Ministry of Work, housing, and the Federal Capital Territory Administration.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
