President Bola Tinubu has assented to the N2.18 trillion 2023 Supplementary Appropriation Bill passed by the National Assembly last week.
The bill is aimed at providing additional funding for the government to meet its obligations and address critical infrastructure needs.
DAILY GIST recalls that the bill’s passage was met with controversies, particularly over the allocation of funds for certain luxury items such as a N5 billion part payment for a presidential yacht.
The allocations include the renovation of the residential quarters of the Vice President (Abuja) – N2.5 billion; renovation of Dodan Barracks, Lagos, official residence of the President – N4 billion; renovation of official quarters of the VP (Lagos) – N3 billion; construction of office complex in the Presidential Villa – N4 billion; purchase of presidential yacht – N5 billion; purchase of vehicles for the Office of First Lady – N1.5 billion; purchase of SUVs for the Presidential Villa – N2.9 billion; and replacement of operational vehicles for the Presidency – N2.9 billion.
However, the government defended the expenditures, stating that they are necessary for the proper functioning of the presidency.
On Wednesday, the President signed the bill into law at the Presidential Villa in Abuja in the presence of Godswill Akpabio, president of the Senate; Opeyemi Bamidele, Senate Leader; and Olamilekan Adeola, Chairman, Senate Committee on Finance.
Also on hand to witness the signing were Tajudeen Abbas, Speaker, House of Representatives, George Akume, Secretary to the Government of the Federation, Atiku Bagudu, Minister of Budget, and Zacch Adedeji, chairman, Federal Inland Revenue Services, ( FIRS).
A breakdown of the budget forwarded to the National Assembly on 30th October shows that the sum of N210 billion was allocated to support the provisional N35,000 wage for workers and an additional N400 billion for cash transfers to assist vulnerable Nigerians.
The government also appropriated N5.095 billion for the purchase of the controversial Presidential yacht under the capital expenditure of Nigeria Navy and N5.5 billion for the education loan fund
The sum of N605 billion was allocated to security and national defence, and N200 billion was for the agricultural sector.
N210 billion was also earmarked for federal government workers for the approved wage awards meant to cover September to December.
Others include N210b for wage awards recently approved for Nigerian workers covering the period from September to December.
N100 billion was allocated to the Federal Capital Territory, (FCT ), while N18b is set aside for the Independent National Electoral Commission (INEC), for the November 2023 governorship elections in Kogi, Imo and Bayelsa states.
Apart from the N5.5b set aside for student loans, another N200b is for capital supplementation.
The Federal Executive Council ( FEC) had approved supplementary appropriation and forwarded the sum of N2,176,791,286,033 as supplementary to the lawmakers
