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.
READ ALSO: Police warn against false alarm, mob action over missing genital organs
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.