In a significant milestone, the N2.17 trillion supplementary budget for 2023 successfully passed its second reading at the House of Representatives today. This budget, which was submitted by President Bola Tinubu, underwent thorough deliberation and scrutiny before receiving approval from the House.
President Tinubu, in his letter to the House, emphasized the urgency of passing the N2.17 trillion supplementary budget by December 2023. This budget allocation includes N18 billion for statutory transfers, N992.8 billion for recurrent expenditure, and an impressive N1.16 trillion for the development fund, which will be used for crucial capital expenditure.
During the debate on the bill, Honourable Julius Ihonvbere, the Majority Leader of the House, highlighted the importance of these funds in fulfilling the agreement between the Federal Government and the Nigerian Labour Congress (NLC). He passionately urged his fellow lawmakers to swiftly pass the bill, ensuring that workers can enjoy a well-deserved and fulfilling end-of-year holiday.
“We have a government that listens to the needs of its people,” said Honourable Ihonvbere. “This budget arrives at a crucial time when it is desperately needed. At the heart of governance lies the responsibility to prioritize the welfare of our citizens and to have the audacity to refocus society’s trajectory.”
Supporting the bill, Honourable Ben Kalu pointed out the dire need for improvements to the nation’s roads. He stressed the importance of the proposed N1.17 trillion allocation for capital projects, which would facilitate urgent interventions and upgrades across the country.
After the thorough debate, the bill received unanimous approval and was passed for a second reading. It has now been referred to the Committee on Appropriations for further assessment and refinement.
This N2.17 trillion supplementary budget is a vital step towards advancing Nigeria’s growth and development. With its careful allocation of funds, the government demonstrates its steadfast commitment to addressing pressing issues and uplifting the lives of its people.
As the budget progresses through the legislative process, Nigerians eagerly await the positive impact it will have on critical sectors and their day-to-day lives.
