Tinubu Signs N2.17trn Supplementary Budget Into Law

President Bola Tinubu on Wednesday signed the N2.176 trillion Supplementary Appropriation Act aimed at strengthening Nigeria’s security architecture as well as tackling the nation’s critical infrastructure deficit, among other considerations.

The President, who spoke while signing the supplementary budget passed last week by the two Chambers of the National Assembly into law commended the legislative arm for its expeditious consideration and approval, assuring Nigerians that the executive arm of government would ensure the judicious use of the budgeted resources.  

President Tinubu signed the Supplementary Appropriation Act, 2023, in his office at the State House in the presence of Senate President Godswill Akpabio; Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas; Secretary to the Government of the Federation, Senator George Akume; Majority Leader of the Senate, Senator Opeyemi Bamidele; Chairmen of the Appropriation Committees in the Senate, Senator Olamilekan Adeola, and the House of Representatives, Hon. Abubakar Bichi, as well as the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji.  

Giving a breakdown of the supplementary budget, Minister of Budget and Economic Planning, Senator Abubakar Bagudu, said the newly approved expenditure for defence and security consists of about 30 percent, while 35 percent is dedicated to the provision of critical infrastructure to be allocated to the Federal Ministries of Works, the Federal Capital Territory, and Housing & Urban Development. 

He further explained that 32 percent of the supplementary budget was allocated to the new Wage Award for treasury-paid federal workers to cushion the effect of the removal of fuel subsidy, in addition to cash transfers to vulnerable persons, and support to the Independent National Electoral Commission (INEC), amongst other considerations. 

Deji Elumoye in Abuja

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