Tinubu signs N2trn supplementary budget into law

President Bola Tinubu has signed the 2023 N2.17 trillion supplementary budget into law to address the urgent security and economic needs of the nation.

Tinubu assented to the supplementary appropriation bill on Wednesday in his office at the State House, Abuja.

Top government officials such as George Akume, the secretary to the government of the federation; Godswill Akpabio, senate president; Tajudeen Abbas, house of representatives speaker; Atiku Bagudu, minister of budget and economic planning; and Zacch Adedeji, chairman of the Federal Inland Revenue Services (FIRS), witnessed the signing.

Others at the signing were Opeyemi Bamidele, senate leader; and Olamilakan Adeola, the chairman of the senate committee on finance.

Tinubu commended the national assembly for its expeditious consideration and approval, assuring Nigerians that the executive arm of government would ensure the judicious use of the budgeted resources.

On November 2, the national assembly had speedily passed the supplementary budget for the third reading.

The upper legislative chamber passed the supplementary appropriation bill after Solomon Olamilekan, chair of the senate committee on appropriation, presented a report.

During his presentation, Olamilekan said there was a  need for the country to take advantage of the coming dry season to implement some projects like road construction, hence the need for the budget to pass speedily.

SUPPLEMENTARY BUDGET’S CONTROVERSIAL EXPENDITURE

Prior to Tinubu assenting to the supplementary budget, some line items had sparked outrage.

Some of the items include: the request for N4 billion for the renovation of the residential quarters for the president in Abuja; the renovation of the residential quarters of the vice-president (Abuja) at N2.5 billion.

Others are the request to purchase a presidential yacht at N5 billion; vehicles for the office of the first lady at N1.5 billion; SUVs for the Presidential Villa at N2.9 billion; and the replacement of operational vehicles for the presidency at N2.9 billion.

However, commenting on the budget after a federal executive council (FEC) meeting on October 30, 2023, Bagudu said the largest chunk (N605 billion) of the N2,176,791,286,033 would go into security, to enhance the capacity of the nation’s defence and the security agencies.

“In negotiation with the Nigeria Labour Congress, the federal government agreed to pay N35,000 each to about 1.5 million employees of the federal government and that amounts from September, October, November and December 2023,” Bagudu said.

He had also said N400 billion of the fund would be used for cash transfers to vulnerable and poor Nigerians between October and November.

In a statement on Wednesday, signed by Ajuri Ngelale, the president’s special adviser on media and publicity, Bagudu further explained that the newly approved expenditure for defence and security consists of about 30 percent.

He said 35 percent of the budget is dedicated to the provision of critical infrastructure to be allocated to the federal ministries of works, the federal capital territory (FCT), and housing and urban development.

The minister also said 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 petrol subsidy, “in addition to cash transfers to vulnerable persons, and support to the Independent National Electoral Commission (INEC), amongst other considerations”.