TINUBU REQUESTS SENATE TO APPROVE N2.17 TRILLION SUPPLEMENTARY BUDGET 31-10-23 By Sadiq Aminu BudgetPresident Bola Tinubu, has requested the Senate to consider and approve a supplementary budget of N2.17 trillion naira.
The request was contained in a letter read by the Senate President during plenary.
In his letter, President Tinubu explained that the supplementary budget would support the provisional wage of N35,000 to workers, costing the federal government N210 billion and N400 billion as cash transfers to vulnerable Nigerians.
He explained that supplementary budget would shore up the country’s security and agricultural sectors.
President Tinubu explained further that the funds for the forthcoming elections in Kogi, Bayelsa, and Imo states,are included in the supplementary budget.
In a related development, the President Bola Tinubu also sent the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) ahead of the 2024 budget presentation, to the Senate for approval.
In the MTEF and FSP documents submitted, the federal government proposed $73.96 for the price of crude per barrel and an exchange rate of N700.
MTEF and FSP are documents containing the various indices, which the annual budget is predicated.