PUNCH
The House of Representatives, on Tuesday, passed the supplementary bill seeking to increase the 2024 Appropriation Act from N28.7tn to N35.06tn.
The House had on Wednesday, July 17, passed the N6.2tn extra-budgetary proposal by President Bola Tinubu and on Tuesday, the bill scaled the third reading with Clauses 1 to 13 considered and approved at the Committee of Supply.
A breakdown of the proposed N35.06tn for the 2024 fiscal year showed that N1.74tn is earmarked for statutory transfers; N8.27tn for debt service; N11.2tn for recurrent expenditure while N13.77tn is slated as a contribution to the Development Fund for capital expenditure for the year ending December 31, 2024.
Leading the debate on the general principle of the bill, the Chairman, House Committee on Appropriation, Abubakar Bichi, who presented the harmonised joint Senate and House report on the budget, pleaded for the adoption of the recommendations of the ommittee.
Addressing journalists shortly after the passage of the budget, Bichi said, “As you can see, we have passed the N6.2tn budget of Mr President, the budget of Renewed Nope.
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