The ₦N2.176 trillion 2023 supplementary budget that President Bola Ahmed Tinubu submitted to the legislature on Tuesday has been approved by the National Assembly.
The budget was approved on Thursday, following the Senate’s adoption of an Appropriations Committee report which was delivered in plenary by the committee’s chairman, Senator Adeola Olamilekan (Ogun West).
Tinubu had said the supplementary bill was necessary for additional palliative measures including wage awards. The Federal Executive Council (FEC) chaired by the President on Monday had approved the 2023 supplementary budget of N2.1 trillion.
Lawmakers on Tuesday began debate on the urgency of expediting the passage of the supplementary budget. The lawmakers identified the need to particularly enhance the critical needs of the people and emergency areas including infrastructure, insecurity, labour demands (N210bn wage award payment and (N5.5bn student loan).
The detail of the 2023 supplementary budget indicate that while N1.010.802,015,985 was for Recurrent expenditure, N1.165,989,270,049 is to be spent on Capital expenditure.