LIVE UPDATES
The N6.2tn budget amendment bill has been approved by the National Assembly for the third reading, with the Federal Government allocating approximately N2tn for the Lagos-Calabar highway and various road projects.
The bill was passed following the presentation of the Senate Committee on Appropriation's report on the 2024 Appropriation (Amendment) Bill by Chairman Olamilekan Adeola (APC, Ogun West).
On July 17, 2024, President Bola Tinubu sent a bill to the Senate for an Act to amend the Appropriation Act, 2024, proposing a total of N6.2tn with N3.2tn for capital expenditure and N3tn for recurrent expenditure.
The allocation includes N700bn for the coastal road from Lagos to Calabar, passing through Lagos, Ogun, Ondo, Delta, Bayelsa, Port Harcourt, Akwa Ibom, and Cross River states.
The Port-Harcourt to Maiduguri railway line is allocated N530bn, passing through Abia, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Kaduna, Bauchi, Gombe, Yobe, and Borno states.
The appropriation also covers the Badagry to Tin Can Port, Lekki Port, Ijebu Ode, and Kajola. Additionally, the African Trans-Sahara Highway (traversing Benue, Kogi, Nasarawa, Abuja) is allocated N200bn.
The bill also designates N349bn for water, irrigation, dam development projects, and N75bn for the Livestock Development Programme.
During the bill's presentation, Olamilekan stated, "The bill underwent first and second readings and was referred to the Committee on Appropriations for further legislative action.
"The 2024 Appropriation Act (Amendment) Bill aims to provide additional funds for Renewed Hope Infrastructure Development Projects to be carried out nationwide."
#
