On Tuesday, the 2023 Supplementary Appropriation Bill swiftly progressed to its second reading in the House of Representatives, with lawmakers emphasizing its vital role in bolstering the nation.
The bill, soliciting the approval of an impressive sum of N2,176,791,286,033, was presented to the House by President Bola Tinubu. Its primary aim is to tackle critical areas such as labor wage adjustments and bolstering national security, among other pressing concerns.
Notably, President Tinubu concurrently forwarded the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper to the House of Representatives, underscoring a comprehensive approach towards ensuring long-term fiscal stability and strategic planning.
Tinubu Proposes N2.2trn 2023 Supplementary Budget
Preceding this development, the Federal Executive Council (FEC) convened on Monday, where they granted their seal of approval to the 2023 supplementary budget, amounting to a substantial N2.1 trillion. At the post-FEC meeting briefing in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, emphasized the critical urgency of the budget, emphasizing its pivotal role in addressing exigent national concerns.
“The council considered a request for supplementary appropriation which is a second for 2023,” he said at the State House in Abuja.
“And graciously approved the sum of N2,176,791,286,033 as supplementary budget and this supplementary budget is to fund urgent issues including N605 billion for national defence and security.
“This is to sustain the gains made in security and to accelerate and these are funds that are needed by the security agencies before the year runs out.”
