OrderPaperToday – The House of Representatives has concurred with the senate which earlier today approved a total sum of N574.5billion as the supplementary budget for the year 2015.

The sum of N574.532 billion has also been approved by the lower chamber after adopting the report of its joint committee on Appropriations, Finance and Aids, Loans and Debt Management.

The approved supplementary budget was increased by 108.895 billion naira from the initial 465 billion naira requested by President Muhammadu Buhari to the National Assembly.

--Sponsored Content --

A breakdown of the supplementary budget shows that Fuel subsidy payment was increased from 413 billion naira to 522 billion naira, indicating an increase of 108.895 billion naira.

The joint committee explained that the increment of 108.895 billion naira is to enable Federal Government to pay for fuel subsidy for the October to December 2015 fiscal year.

With this development, a joint committee to harmonize the bill as passed by both houses of the national assembly may no longer be necessary as the figures correspond.

The bill passed would be accordingly forwarded to President Buhari for assent for it to become law.



Please enter your comment!
Please enter your name here