President Bola Tinubu has officially signed the 2023 Supplementary Budget, amounting to N2.17 trillion, into law at the Presidential Villa in Abuja. This comes after the Senate and the House of Representatives passed the supplementary appropriation bill, following its third reading.Thank you for reading this post, don't forget to subscribe!
The swift passage of the bill was facilitated by the Senate’s adoption of the report from the harmonized sittings of both chambers on the 2023 Supplementary Appropriation Bill. Senator Solomon Olamilekan Adeola, Chairman of the Appropriations Committee, presented the report.
Tinubu had previously forwarded the request for the N2,176,791,286,033 supplementary budget to the National Assembly, highlighting its significance in addressing wage adjustments, enhancing security, and fulfilling other essential priorities.
In addition to the supplementary budget, President Tinubu also submitted the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper to the National Assembly. The Senate had previously passed a provision of N819 billion for a N500 billion palliative package, reinforcing the necessity of the supplementary budget to address various key priorities, including wage awards. The Federal Executive Council (FEC) had approved the 2023 supplementary budget of N2.1 trillion in a meeting chaired by the President.