Reps Pass N2.176trn 2023 Supplementary Budget Bill For Second Reading

The House of Representatives has passed the proposed NN2,176 trillion 2023 Supplementary budget for second reading. The passage followed the receipt of a letter from President Bola Ahmed Tinubu seeking the consideration and approval. He also presented the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP) to the House. The 2023 Supplementary budget […]

The House of Representatives has passed the proposed NN2,176 trillion 2023 Supplementary budget for second reading.

The passage followed the receipt of a letter from President Bola Ahmed Tinubu seeking the consideration and approval.

He also presented the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP) to the House.

The 2023 Supplementary budget Bill was titled: “A Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N2,176,791 286,033 (two trillion, one hundred and seventy-six billion, seven hundred and ninety-one million, two hundred and eighty-six thousand, thirty-three naira) only, of which #3 18,0000,000,000 (eighteen billion naira) only is for Statutory Transfers, N992,802,015,985 (nine hundred and ninety-two billion, eight hundred and two million, fifteen thousand, nine hundred and eighty-five naira) only is for Recurrent (non-debt) expenditure while the sum of 8 1,165,989,270,049} (one trillion, one hundred and sixty-five billion, nine hundred and eighty-nine million, two hundred and seventy thousand, forty-nine naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on 31 December 2023 (HB. 765) — Second Reading”.

The Bill was presented for second reading by the House Leader, Prof. Julius Ihonvbere, and passed by the House for second reading after a voice vote put by the Speaker, Abbas Tajuddeen.