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Senate to receive supplementary budget July

The Nigerian Senate has announced that President Bola Tinubu will submit the 2024 Supplementary Budget to the legislature for approval upon resumption after the July 2 break.

Senate spokesperson, Yemi Adaramodu, made this known, stating that the N6.6 trillion supplementary budget is still being computed by the executive but will be sent to the National Assembly shortly.

When asked about the budget size, Adaramodu confirmed that it is indeed N6.6 trillion, adding that it will be sent to the National Assembly once the Senate resumes after the Sallah recess.

In his May 29 address to a joint session of the Senate and House of Representatives, President Tinubu had promised to present the supplementary budget for the 2024 fiscal year.

Minister of Budget and Economic Planning, Senator Atiku Bagudu, also revealed last week that the supplementary budget is still being prepared and will be spent on four identified transformational projects, including the Lagos-Calabar Coastal Road, Sokoto-Badagri Road, completion of ongoing railway projects, and rehabilitation and expansion of dams and irrigation schemes.

The minister noted that these projects are priority items designated by the President, which include infrastructure development, renewed health infrastructure, and supporting increased production in the economy. He added that more funds will be allocated to support CNG and LNG initiatives.

According to Bagudu, work on the supplementary appropriation bill is ongoing and has not been submitted to the Federal Executive Council yet.

However, many stakeholders have already approached the ministry and National Assembly leadership seeking information on the progress of the bill.

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