Nigeria’s 2023 Supplementary budget signed into law
What will not be covered in the budget, although it was proposed by the president, is a multifunctional yacht for the Nigerian Navy.
A speedy passage of the Supplementary Appropriation Bill 2023 by the National Assembly last Thursday made it an Act. And, so, today, close to a week later, President Bola Tinubu has signed the document, therefore, making the 2.176 trillion budget a law.
The breaking tweet via the Presidency’s X platform confirmed the assent, which was given in the company of the Senate President Godswill Akpabio; the Speaker of the House of Representatives, Tajudeen Abbas; Secretary to the Government of the Federation, George Akume and others.
All these leaders flanked Mr Tinubu on both sides as he penned his signature on the legislative tool, which he anticipates would further his renewed hope agenda.
Breaking:
President Bola Tinubu @officialABAT signs 2023 Supplementary Budget at the State House, Abuja pic.twitter.com/lR8bTyVVE2
— Presidency Nigeria (@NGRPresident) November 8, 2023
With the new funding that has just been secured, the president will be able to finance wage increases for federal workers, initiate cash transfers intended for the extremely needy, as well as to make resources available to the Independent National Electoral Commission (INEC).
ALSO READ: Up in a Minute: Tractor assembly plant in Nigeria soon to be realised
What will not be covered, although proposed by the president, is a multifunctional yacht for the Nigerian Navy. When it became knowledge that an interest in purchasing this naval vehicle had made the request list to the National Assembly, the public rejected this, and soon there was a statement from President Bola Tinubu’s office sharing that the yacht included in the budget was strictly to enhance Nigeria’s defensive capabilities, and not of an item of luxury.
Eventually, Representatives and Senators agreed to reassign the ₦5billion that was billed for the yacht to fund the student loan initiative.
Ayodelé is a Lagos-based journalist and the Content and Editorial Coordinator at Meiza. All around the megacity, I am steering diverse lifestyle magazine audiences with ingenious hacks and insights that spur fast, informed decisions in their busy lives.
