President Tinubu Signed 2023 Supplementary Budget into Law. Nigeria President Bola Tinubu has signed the 2023 Supplementary Budget N2.17trn into law at the Presidential Villa in Abuja.
The supplementary budget was recently passed by the National Assembly. The budget is meant to address unforeseen expenditures that were not captured in the original budget.
The signing of the supplementary budget into law will enable the government to fund critical projects and programs that will benefit the citizens.
In the company of the President during the signing of the 2023 Supplementary Appropriation bill at the State House this afternoon were the president of the Senate, Godswill Akpabio, and the speaker of the House of Representatives, Tajudeen Abass.
At the brief signing ceremony, which took place in the president’s office, other attendees included Zacch Adedeji, Chairman of the Federal Inland Revenue Services (FIRS), Atiku Bagudu, Minister of Budget and Economic Planning, and Secretary to the Government of the Federation (SGF), George Akume.
Senator Olamilakan Adeola, the head of the Senate Committee on Finance, and Senate Leader Opeyemi Bamidele were also present for the signing.
One contentious item in the supplemental budget is the N5 billion allotted for a “Presidential Yacht.” Despite the public outburst on the issue of buying a Presidential yacht, the Senate has approved the president’s request to buy it.
To improve the ability of the armed forces and security services to handle present and future security threats across the country, N605 billion has been set aside for security.
Other items include N5.5 billion for the student loan program and over N616 billion in salary increases for civil servants to help offset the increased cost of living post-subsidy.
With this, the civil servant will state seeing an increase in their salary as the budget for such purpose has been approved and signed into law. All hands are crossed to see what will unfold.