Tinubu asks Senate to raise 2024 budget by N6.2trn

President Bola Ahmed Tinubu on Wednesday transmitted a letter to the Senate asking the lawmakers to approve 2024 supplementary appropriation to the tune of N6.2 trillion. The letter was read by Senate President Godswill Akpabio. This increases the 2024 budget to N34.9 trillion from an initial N28. 7 trillion budget President Tinubu had earlier signed […]

President Bola Ahmed Tinubu on Wednesday transmitted a letter to the Senate asking the lawmakers to approve 2024 supplementary appropriation to the tune of N6.2 trillion.

The letter was read by Senate President Godswill Akpabio.

This increases the 2024 budget to N34.9 trillion from an initial N28. 7 trillion budget President Tinubu had earlier signed into law on January 1.

Tinubu is seeking an amendment to the budget to provide for N3.2 trillion for infrastructure projects and N3 trillion for recurrent expenditure, according to the letter.

The letter reads in part, “Pursuant to section 58 (2) of the constitution of the Federal Republic of Nigeria as amended, I forward herewith the above named bills for consideration and passage by the senate.

“The appropriation act amendment bill seeks to amend the principal act to provide the sum of N3,200,000,000,000 for Renewed Hope Infrastructure Projects and other critical infrastructure projects to be undertaken across the country and the sum of N3,000,000,000,000 to meet further recurrent expenditure requirements necessary for the prosper operation of the federal government.

“They shall be funded by accruing to the federal government of Nigeria.”