President Bola Tinubu, on Wednesday signed the N2.17 trillion 2023 Supplementary Budget, which was recently passed by the National Assembly into law.
He performed the brief ceremony at the State House, Abuja with the President of the Senate, Godswill Akpabio, and the Speaker of the House of Representatives, Tajudeen Abass, in attendance.
Also at the event were the Secretary to the Government of the Federation (SGF), George Akume; Minister of Budget and Economic Planning, Atiku Bagudu; and Chairman of the Federal Inland Revenue Services (FIRS), Zacch Adedeji.
Others were Senate Leader, Sen Opeyemi Bamidele; and the chairman of the Senate Committee on Finance, Olamilakan Adeola.
A statement issued afterwards by presidential spokesman, Ajuri Ngelale, noted that the budget aims to strengthen Nigeria’s security architecture and address Nigeria’s critical infrastructure deficit, amongst other considerations.
Providing a breakdown of the supplementary budget, the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, said the newly approved expenditure for defence and security consists of about thirty percent, while 35 percent is dedicated to the provision of critical infrastructure to be allocated to the Federal Ministries of Works, the Federal Capital Territory, and Housing & Urban Development.
The Minister further explained that 32 percent of the supplementary budget was allocated to the new Wage Award for treasury-paid federal workers to cushion the effect of the removal of fuel subsidy, in addition to cash transfers to vulnerable persons, and support to the Independent National Electoral Commission (INEC), amongst other considerations.
President Tinubu commended the National Assembly for its expeditious consideration and approval, assuring Nigerians that the executive arm of government would ensure the judicious use of the budgeted resources.
