₦6.2trillion increase in budget, ₦100m support for Olympic games and winfall tax on banks top activities in the House today
Reps advance Tinubu’s bills to Increase 2024 budget by ₦6.2 trillion, impose bank tax
The House of Representatives today received a double dose of executive bills to increase government spending which both passed the first and second reading on the floor. A bill to amend the 2024 budget to authorise additional spending of ₦6.2 trillion for the fiscal year ending December 31, 2024 and another to amend the Finance Act 2023 to impose windfall tax on banks to help fund infrastructural projects in the country were highlights of the day. Leading the debate, the House Majority Leader, Rep. Julius Ihonbvere (APC Edo), stated that the amendment to the Appropriation Act 2024 aims to draw ₦3.2 trillion from the Consolidated Revenue Fund for capital expenditures and ₦3.0 trillion for recurrent expenditures for the year ending December 31, 2024. Both bills scaled second reading without any debate from lawmakers.
₦100 million to support 2024 Paris Olympics team
The House of Representatives today allocated ₦100 million to support the 2024 Paris Olympics team. Deputy Speaker Rep. Benjamin Kalu (APC Abia), who presided over the session, announced this after delivering a message from Speaker Rep. Tajudeen Abbas (APC Kaduna) to the Minister of Sports, the President of the Olympic and Paralympic Committee, and the 2024 Olympic/Paralympic contingent, who were present to showcase the newly unveiled 2024 Olympic sport kits. Kalu noted that the ₦100 million would be sourced from members’ salaries and urged Nigerians to support the athletes. The lawmakers while commending the team, encourage them to raise the torch of Nigeria high.
Two vacancies in the House
The House of Representatives today announced that the seats for Ibadan north federal constituency and Chikun/Kajuru federal constituency of Kaduna State have become vacant. Speaker Rep. Tajudeen Abbas stated that the vacancies resulted from the deaths of Rep. Olaide Akinremi (Jagaban) on July 8, 2024, and Rep. Ekene Abubakar Adams on July 16, 2024.
BILLS CHART FOR THE DAY
Below is OrderPaper’s signature presentation of bills taken in House plenary today. Readers are invited to contact us for further information via info@orderpaper.ng or via WhatsApp via +234 704 700 3031
