The House of Representatives has approved the proposed 2023 Supplementary budget of N2,176 trillion for a second reading. The passage of the bill followed a letter from President Bola Ahmed Tinubu requesting consideration and approval.
President Tinubu also presented the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP) to the House.
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The 2023 Supplementary budget Bill, titled “A Bill for an Act to authorize the issue from the Consolidated Revenue Fund of the Federation,” seeks a total sum of N2,176,791,286,033, which includes N18 billion for Statutory Transfers, N992,802,015,985 for Recurrent (non-debt) expenditure, and N1,165,989,270,049 for contribution to the Development Fund for Capital Expenditure for the year ending on December 31, 2023 (HB. 765) — Second Reading.
The Bill for the second reading was presented by the House Leader, Prof. Julius Ihonvbere, and it was passed by the House following a voice vote conducted by the Speaker, Abbas Tajuddeen.
