The House of Representatives has passed the proposed NN2,176 trillion 2023 Supplementary budget for second reading.
The passage followed the receipt of a letter from President Bola Ahmed Tinubu seeking the consideration and approval.
He also presented the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper (MTEF/FSP) to the House.
The 2023 Supplementary budget Bill was titled: “A Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N2,176,791 286,033 (two trillion, one hundred and seventy-six billion, seven hundred and ninety-one million, two hundred and eighty-six thousand, thirty-three naira) only, of which #3 18,0000,000,000 (eighteen billion naira) only is for Statutory Transfers, N992,802,015,985 (nine hundred and ninety-two billion, eight hundred and two million, fifteen thousand, nine hundred and eighty-five naira) only is for Recurrent (non-debt) expenditure while the sum of 8 1,165,989,270,049} (one trillion, one hundred and sixty-five billion, nine hundred and eighty-nine million, two hundred and seventy thousand, forty-nine naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on 31 December 2023 (HB. 765) — Second Reading”.
The Bill was presented for second reading by the House Leader, Prof. Julius Ihonvbere, and passed by the House for second reading after a voice vote put by the Speaker, Abbas Tajuddeen.