Senate okays FG’s N2.17trn 2023 supplementary budget

The Senate has given expeditious passage to the 2023 Supplementary Appropriation Bill of N2.17 trillion.

President Bola Tinubu had sent in the budget to address labour wage adjustments, security and other urgent issues.

He also sent the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate for approval.

The passage of the bill followed the presentation, consideration and approval of the report of the Senate Committee on Appropriation at plenary on Thursday chaired by Sen.Solomon Adeola (APC-Ogun).

Adeola, said the committee received inputs from the leadership of the relevant sub-committees and the heads of ministries, departments and agencies (MDAs) on the supplementary bill.

He said the committee considered the detailed provisions of the bill and inputs received from the heads of the benefiting MDAs and the leadership of the corresponding sub-committee in the Senate.

Giving the breakdown of the approved budget, Adeola said N18 billion is for statutory transfers only, N1.33 trilion for recurrent non-debt expenditure, while N1.125 trillion is for contributions to development fund for capital expenditures for the year ending December 31, 2023.

A breakdown of sectoral allocations and MDAs is as follows:

INEC N18 billion; Defence N346.1billion; police formations and commands N29.6 billion and Office of the National Security Adviser N39.6 billion.

Others are Federal Ministry of Agriculture and Food Security N103 billion, Service Wide Vote N515 billion, State House N28 billion, Ministry of Defence N200 billion police formations and commands, N20.3 billion

Again, Office of the National Security Adviser got N10.3 billion, Federal Ministry of Agriculture and Food security N97 billion, Federal Ministry of Works N300 billion, Federal Capital Territory Administration, N100 billion and Capital Supplementation N220.5 billion.