The National Assembly passed the N2.17 trillion 2023 Appropriation Bill after the third reading.
After a successful reading of the bill in the House of Representatives on Tuesday, the bill scaled through to the Upper Chamber where it was approved by the Senate.
Following the presentation of the Appropriations Committee’s report by Senator Adeola Olamilekan (Ogun West), the budget was approved during the plenary session.
President Tinubu, in a letter read in both chambers, had asked the federal lawmakers for their approval of his proposal. This is the second request of its kind in the year, with the previous approval of N819.5 billion aimed at providing support to poor Nigerians.
In the letter, the president emphasized the importance of implementing additional palliative measures, including the wage award for public servants and the enhanced Cash Transfer Programme, to support the most vulnerable individuals in society.
“In addition, critical defence expenditures are also urgently required to provide for peace and the security of lives and property without which the government’s economic growth agenda cannot be achieved.
“Similarly, critical investments are also required to construct much-needed infrastructure, particularly roads, which projects must be commenced within the (dry season) period between now and the end of the year,” he added.
A breakdown of the budget also includes an allocation of N210 billion to support the provisional N35,000 wage for workers and an additional N400 billion for cash transfers to assist vulnerable Nigerians, among other initiatives.
In addition, Nairametrics reported that the federal government appropriated the sum of N5.095 billion for the purchase of a Presidential yacht under the capital expenditure of Nigeria Navy and N5.5 billion for the education loan fund in the 2023 supplementary budget.
Accordingly, N605 billion is to be allocated to security and national defence, and N200 billion is for the agricultural sector.
N210 billion was also earmarked for federal government workers for the approved wage awards meant to cover September to December, among others.
Source: Nairametrics
