President Bola Ahmed Tinubu has given his official assent to the second supplementary appropriation bill for 2023, which amounts to a total of N2,176,791,286,033.
This bill had recently passed through the National Assembly, stirring controversy due to the provisions for a presidential yacht by the Navy and the allocation of over N6 billion for vehicles to the State House. The signing ceremony took place in a brief event in his office at the Presidential Villa in Abuja on Wednesday.
This significant occasion was attended by several prominent figures, including President of the Senate, Godswill Akpabio; Speaker of the House of Representatives, Tajudeen Abbas; Senate Leader, Sen Opeyemi Bamidele; Chairman of the Senate Committee on Finance, Sen Olamilekan Adeola; Chairman of the House of Representatives Committee on Appropriation, Abubakar Kabir Abubakar; Secretary to the Government of the Federation, George Akume; Minister of Budget and Economic Planning, Atiku Bagudu; and Chairman of the Federal Inland Revenue Services, Zachs Adedeji.
Minister Bagudu explained that the supplementary budget is designed to address pressing issues, including an allocation of N605 billion for national defense and security to sustain the progress made in enhancing security.
Additionally, N300 billion has been set aside for the repair of bridges, including the Eko and Third Mainland bridges, and for the construction, rehabilitation, and maintenance of numerous roads across the country before the rainy season returns.
N200 billion has been earmarked to support agricultural expansion through the provision of seeds, agricultural inputs, supplies, agricultural implements, and infrastructure.
N210 billion has been allocated for the payment of six months’ provisional wage awards, as agreed upon during negotiations with the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC). These payments will cover the months from September to December 202023.
Furthermore, N400 billion has been approved for cash transfer payments. The federal government had secured an $800 million loan from the World Bank to provide cash transfers of N25,000 to 15 million households for two months (October and November), with the President graciously approving an additional month funded by the federal government, covered by the N100 billion.
Moreover, N100 billion has been set aside for the Federal Capital Territory (FCT) to support immediate capital expenditure projects that can enhance infrastructure in the city.
The Independent National Electoral Commission (INEC) is receiving N18 billion to support the upcoming elections in Bayelsa, Kogi, and Imo states. Additionally, N5.5 billion has been provided for the takeover of the student loans board, and N8 billion is allocated for the startup grant of new ministries. In addition, N200 billion has been allotted as capital supplementation to address urgent requests from various parts of the country.
