President Bola Tinubu on Wednesday signed the N2.17 trillion 2023 Supplementary Appropriation Bill into law.
The president’s assent followed the speedy approval and passage of the budget proposal from both chambers of the National Assembly.
Persecondnews reports that the Senate and the House of Representatives had passed the N2.17trn 2023 supplementary appropriation bill after a third reading last Thursday.
The proposal has now effectively become a law, making it possible for the federal government to disburse the funds allocated to each tier of government and ministries, departments and agencies as contained in the budget.
Details of the 2023 Supplementary budget shows that N1.010.802,015,985 (trillion) is meant for recurrent expenditure while N1.165,989,270,049(trillion) is for capital expenditure.
Persecondnews also recalls that Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labor wage adjustments, palliative measures, security, and others.
The President had also sent the 2024-2026 Medium Term Expenditure Framework (MTEF) & Fiscal Strategy Paper to the National Assembly.
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