Tinubu Signs N2.17trn 2023 Supplementary Budget Into Law

President Bola Tinubu and some of his Presidential cabinet

President Tinubu enacts a N2.17 trillion supplemental budget

The N2.17 trillion 2023 Supplementary Budget, which was just approved by the National Assembly, was signed by President Bola Tinubu on Wednesday.

The National Assembly recently approved the bill amidst controversy around the Navy's offer for a presidential yacht and the N6 billion allotted for State House vehicles.

The President signed the 2023 Supplementary Appropriations Act at the Presidential Villa in Abuja, in the presence of Speaker of the House of Representatives Tajudeen Abass and Senate President Godswill Akpabio.

The President was accompanied by Senator George Akume, Secretary to the Government of the Federation (SGF), Atiku Bagudu, Minister of Budget and Economic Planning, and Zacch Adedeji, Chairman of the Federal Inland Revenue Services (FIRS), during the brief signing ceremony held in his office.

Olamilakan Adeola, the chairman of the Senate Committee on Finance, and Senate Leader Opeyemi Bamidele were also present for the signing.

The supplemental budget will be utilized to fund pressing needs, such as N605 billion for national defense and security, the Minister of Budget and Economic Planning had declared following the federal cabinet meeting.

According to him, "This is to sustain the gains made in security and these are funds that are needed by the security agencies before the year runs out."

According to Bagudu, an additional N300 billion was given for the building, rehabilitation, and maintenance of numerous roads around the country ahead to the start of the rainy season, as well as for the repair of bridges, including the Third Mainland and Eko.

In order to boost output expansion, he continued, N200 billion had been set aside for infrastructure, supplies, agricultural instruments, seed, and other items.

As agreed upon during negotiations with the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC), the minister stated that a total of N210 billion had been allocated for the payment of the six-month interim wage award.

He recollected that approximately 1.5 million federal employees received N35,000 per year from the government.

Tinubu assured the people of Nigeria that the executive branch of government would make sure that the allocated funds were used wisely, and he praised the national legislature for its prompt consideration and approval.