NASS pass N2.17tr Supplementary budget, receive MTEF

NewsroomOctober 31, 20233 min

In passing the supplementary budget, the lawmakers urged President Tinubu to give priority to the security, agriculture, and infrastructure sectors in the implementation.

The 2023 supplementary budget received expeditious passage in the Senate and the House of Representatives.

The proposed N2.17 trillion 2023 supplementary Budget scaled through second reading in both chambers of the National Assembly following receipt of a letter from President Bola Tinubu seeking consideration and approval of the proposal.

President Tinubu also transmitted the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP) to both Chambers.

The bill, which was introduced for first reading, was subsequently read a second read time, and unanimously adopted by the Senate and the House respectively at Tuesday’s plenary.

The Bill, presented on the floor of both Chambers by the Senate and Majority Leader respectively, is titled a “Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N2,176,791,286,033 (two trillion, one hundred and seventy-six billion, seven hundred and ninety-one million, two hundred and eighty-six thousand, thirty-three naira) only, of which N18,0000,000,000 (eighteen billion naira) only is for Statutory Transfers, N992,802,015,985 (nine hundred and ninety-two billion, eight hundred and two million, fifteen thousand, nine hundred and eighty-five naira) only is for Recurrent (non-debt) expenditure while the sum of N1,165,989,270,049 (one trillion, one hundred and sixty-five billion, nine hundred and eighty-nine million, two hundred and seventy thousand, forty-nine naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on 31 December 2023 (HB. 765).”

READ ALSO: President Tinubu to present 2024 budget in November

According to President Tinubu, the supplementary bill has become necessary for additional palliative measures including wage awards.

While debating the bill, Senators stressed the need to enhance the critical needs of the people and emergency areas including infrastructure, insecurity, and labor demands and award payment.

According to the Leader of the Senate, Opeyemi Bamidele (APC, Ekiti) “The fund would address issues related to insecurity, road construction, coordinating the conditional cash transfer, initiating student loans, providing working capital for recently established ministries, and covering the November election if the supplementary budget is approved.”

Also, Senator Seriake Dickson (PDP, Bayelsa West), who queried the expenditure allocated for defense, demanded proper oversight of, and accountability from the federal government’s Ministries, Departments, and Agencies (MDAs) that will be included in the supplementary appropriations.

“We need to demand accountability, not for them to be demanding for billions only,”

In the same vein, the House urged President Bola Ahmed Tinubu to prioritise security, agriculture, infrastructure, and other critical sectors in the Supplementary Appropriation bill of N2.17 trillion proposed for passage by the National Assembly.

The Deputy Minority Whip, Rep. Ali JC Isa, tasked the federal government to ensure critical sectors are considered in the budget.

“Consideration should be given to critical areas in the country.”

Also, Rep. Saleh Babajide (APC, Ekiti) urged the Executive to listen to the yearnings of Nigerians.

“Let me also state that the executive must listen to the yearnings of the people. This is a very good supplementary budget this will cover most of the pains our people are going through.”

On his part, Rep. Babajimi Benson (APC, Lagos) noted that “The minimum wage is included in this package. Our civil servants will be given a stimulus package in this package.”

Rep. Mark Esset (PDP, Akwa Ibom) said, “In as much as we are going to be doing the bidding of the executive, we charge the committees that will be working on this budget to be up and doing and should be judiciously used. I therefore support the passage of this bill.”

The bill was consequently referred to the Appropriation Committees of the Senate and the House respectively for consideration and further legislative action.

 

 

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