President Bola Ahmed Tinubu signed the luxury N2.17 trillion Supplementary Appropriation Act on Wednesday following the passage of the bill by the Senate and the House of Representatives last week.
The supplementary budget is to augment expenditures in the 2023 N21.83 trillion budget signed by ex-president Muhammadu Buhari who left office on May 29.
“The budget seeks to strengthen Nigeria’s security architecture and address Nigeria’s critical infrastructure deficit, amongst other considerations,” presidential spokesperson Ajuri Ngelale said via a press statement.
A breakdown of the budget shows that 30 per cent of the total budget was allocated for defence and security and the Federal Ministry of Works, the Federal Capital Territory, and Housing and Urban Development got 35 per cent.
Thirty-two per cent of the supplementary budget was allocated to the new wage award for treasury-paid federal workers as a palliative to cushion the impact of the petrol subsidy removal, the cash transfers to vulnerable persons, and support to the Independent National Electoral Commission (INEC), among other considerations.
Other budgetary provisions include fleets of SUVs for the First Lady, Oluremi Tinubu, the President and Vice-President Kashim Shettima; renovation of already lavishly furnished presidential and vice-presidential residential quarters in Lagos and Abuja; and the construction of a multibillion naira office complex at the Presidential Villa in Abuja.
The signing of the budget proposal was witnessed by Godswill Akpabio, President of the Senate; Rt. Hon. Tajudeen Abbas, Speaker of the House of Representatives; Sen. George Akume, Secretary to the Government of the Federation; Opeyemi Bamidele, Majority Leader of the Senate.
Others present were the chairmen of the Senate and House of Representatives appropriation committees, Sen. Olamilekan Adeola and Hon. Abubakar Bichi; and the chairman of the Federal Inland Revenue Service, FIRS, Zacch Adedeji.
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