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Sunday, May 26, 2024

Supplementary Budget Proposal For 2023 Is Led By The Ministries Of Defense And Works In Tinubu’s Plan

President Bola Tinubu’s 2023 supplementary budget proposal of N2.176 trillion, submitted to the House of Representatives on Tuesday, places a strong emphasis on the security of Nigerians and their assets, with defense receiving the highest allocation of N476.543 billion. This allocation reflects the ongoing challenges posed by bandits and other criminal elements in the country over the past decade. It’s worth noting that the proposal is subject to the approval of the National Assembly.
The substantial allocation for defense underscores President Tinubu’s commitment to ensuring the safety and security of every part of Nigeria, safeguarding the nation’s territorial integrity. Works has been allocated N300 billion, while the Ministry of Agriculture and Food Security will receive N200 billion. Housing and the Federal Capital Territory Administration each received N100 billion, and Police Commands and Allocation were allocated N50 billion.
Additionally, the supplementary appropriation bill includes allocations for Service Wide Votes (N615 billion), capital supplementation (N210 billion), and State House (N28 billion). The Department of State Services is set to receive N49 billion, the Office of the National Security Adviser will get N29.7 billion, and the Independent National Electoral Commission will receive N18 billion, primarily for the conduct of off-cycle governorship elections in Bayelsa, Kogi, and Imo States on November 11.
In a letter addressed to the House and read by Speaker Abbas Tajudeen, President Tinubu explained the necessity for this supplementary budget, emphasizing the need for additional palliative measures, wage awards for public servants, enhanced cash transfer programs, critical defense expenditures, and investments in essential infrastructure, particularly road construction. This funding is crucial for achieving peace, security, economic growth, and infrastructure development.
The supplementary appropriation bill passed its second reading during a plenary session on Tuesday. The House’s Committees on Appropriation will review and make necessary inputs in preparation for approval, expected to take place in the coming week or early next week.


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