…The President is also seeking their approval to withdraw N3.2 trillion from the Consolidated Revenue Fund, for capital expenditure as well as N3 trillion for recurrent expenditure for the year ending on the 31st December 2024
WED JULY 17 2024-theGBJournal| Senate President, Godswill Akpabio today, read a letter to Senators from President Bola Tinubu, in which he seeks their approval to top-up the 2024 budget with additional N6.200 trillion.
The President is also seeking their approval to withdraw N3.200 trillion from the Consolidated Revenue Fund, for capital expenditure as well as N3 trillion for recurrent expenditure for the year ending on the 31st December 2024.
If approved, it raises the total 2024 budget to N34.9 trillion from the N28.7 trillion approved on January 1st.
The President cited Section 58 (2) of the Constitution while presenting the letter (bill) for consideration and approval by the Senate.
Part of the letter reads; ”The appropriation act amendment bill seeks to amend the principal act to provide the sum of N3,200,000,000,000 for Renewed Hope Infrastructure Projects and other critical Infrastructure projects to be undertaken across the country and the sum of N3,000,000,000,000 to meet further recurrent expenditures necessary for the operation of the federal government.”
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
