Tinubu seeks Senate approval for N6.2 trillion increase in 2024 budget
President Bola Ahmed Tinubu made a formal request on Wednesday to the Senate, urging them to consider a supplementary appropriation of N6.2 trillion for the year 2024.
Senate President Godswill Akpabio read the letter from President Tinubu, detailing the proposed increase in the budget from N28.7 trillion to N34.9 trillion.
This adjustment aims to allocate N3.2 trillion for infrastructure projects and N3 trillion for recurrent expenses.
READ ALSO: Tinubu officially signs N28.7tn 2024 budget into law
The initial budget, signed into law by President Tinubu on January 1, is now subject to amendment as part of ensuring adequate funding for critical areas such as infrastructure and recurrent expenditure.
The letter reads in part, “Pursuant to section 58 (2) of the constitution of the Federal Republic of Nigeria as amended, I forward herewith the above named bills for consideration and passage by the senate.
“The appropriation act amendment bill seeks to amend the principal act to provide the sum of N3,200,000,000,000 for Renewed Hope Infrastructure Projects and other critical infrastructure projects to be undertaken across the country and the sum of N3,000,000,000,000 to meet further recurrent expenditure requirements necessary for the prosper operation of the federal government.
“They shall be funded by accruing to the federal government of Nigeria.”
Proofreading and editing by Fa’izatu Aliyu Doma, Journalist at Neptune Prime.
