Tinubu signs ₦2.17trn supplementary budget into law

President Tinubu was said to have signed the budget in the presence of the Senate President, Senator Godswill Akpabio, Speaker of the House of Representatives, Hon Tajudeen Abbas at his office in the Presidential Villa in Abuja.

According to ThisDay, other officials present during the signing of the budget include the Secretary to Government of the Federation, Senator George Akume, Senate Leader, Senator Opeyemi Bamidele; Chairman, Senate Committee on Finance, Senator Olamilekan Adeola; and Chairman of the Federal Inland Revenue Service, Zach Adedeji.

The Senate and the House of Representatives had on Thursday, November 2, 2023, passed the ₦2.17trn 2023 supplementary appropriation bill after a third reading.

Providing a breakdown of the budget, Atiku Bagudu, the Minister of Budget and Economic Planning, said 35% of the budget is dedicated to the provision of critical infrastructure.

He said that the infrastructure would be allocated to the Federal Ministries of Works, the Federal Capital Territory, and Housing & Urban Development.

He also said that 30% of the budget was allocated to the newly approved expenditure for defence and security.

Bagudu further explained that 32% of the supplementary budget was dedicated to the new Wage Award for treasury-paid federal workers. This according to him was aimed at cushioning the effect of the fuel subsidy removal.