Buhari seeks Senate approval for N895bn supplementary budget | Dailytrust

Buhari seeks Senate approval for N895bn supplementary budget

President Muhammadu Buhari and   Senate President Ahmad Lawan
President Muhammadu Buhari and Senate President Ahmad Lawan

The Senate on Tuesday received President Muhammadu Buhari’s request to approve the 2021 Supplementary Appropriation Bill of N895, 842, 465, 917.

Buhari’s letter seeking approval was read by Senate President Ahmad Lawan on resumption of plenary on Tuesday.

The supplementary budget contained funds to purchase military equipment and the COVID-19 vaccine programme.

The president sought expeditious legislative action on the supplementary budget given the urgency of the request.

Buhari, in the letter, said the executive proposed to fund N45.63bn of the N83.56bn required for the COVID-19 vaccine programme.

He said: “The balance of N37. 93bn required for COVID-19 vaccines, salaries and other health-related expenditures totaling N41.6bn and N48.2bn recurrent component of defence and security will be funded by borrowing N135bn from some special reserve levy accounts.

“We propose to fund the balance of N722.4bn for capital expenditure on defence and security and capital supplementation from new borrowings in the absence of any supplementary revenue sources.”

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410