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The Senate has said it is ready to receive the 2024 Supplementary Budget of N6.6 trillion to be sent by President Bola Tinubu to the legislators for approval after its resumption.
The Senate spokesperson, Yemi Adaramodu, who dropped the hint, said that the N6.6tn supplementary budget would be sent to the National Assembly after its resumption on July 2.
Adaramodu said, “The budget would be sent any time we resume after the Sallah recess. I believe the bill and other important executive communication will be sent to the National Assembly when we resume in July.”
During his May 29 speech to the joint sitting of the Senate and House of Representatives at the National Assembly Complex, President Tinubu said the government would soon present the supplementary budget for the 2024 fiscal year.
“I will soon bring the 2024 Supplementary Appropriation Bill; that is just for your information,” Tinubu had said.
Also, last week, Minister of Budget and Economic Planning, Senator Atiku Bagudu, at a joint briefing of the Joint Senate and House of Representatives Committee on National Planning and Economic Affairs over the proposed Supplementary Appropriation Bill, revealed that the supplementary budget was still being prepared.
He noted that the supplementary budget would be spent on four identified transformational projects.
He stated: “The budget will focus on the inherited Presidential Infrastructure Development Fund, which was domiciled in the National Sovereign Wealth Investment Authority.
“Transformational projects, including Lagos-Calabar Coastal Road; proposed Sokoto-Badagri Road; completion of all ongoing railway projects, which we have not provided counterpart funding.”
He added that the Federal Government also planned to fund the rehabilitation and expansion of dams and irrigation schemes to support increased production within the economy, noting that more money would be spent to support CNG and LNG.
“So, that is why he directed that the ministry prepare supplementary appropriation Bill. We have not finished work on the bill, we have not submitted the supplementary appropriation draft to the Federal Executive Council yet," he added.
