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Finance

Senate passes supplementary budget

debt

Senate passes supplementary budget, raises Buhari’s proposal by N87bn

FILE: Floor of the senate

The Senate on Wednesday passed the supplementary budget submitted to both chambers of the National Assembly two weeks ago by the  President, Major General Muhammadu Buhari (retd.).

Buhari had proposed N895.842,465,917bn, but the Senate Committee on Appropriation, in its report presented by the Chairman, Barau Jibrin, increased the budget size to N982,729,695,343.

The breakdown showed that N123,332,174,164 is for recurrent (non-debt) expenditure, while the sum of N859, 397,521,179 is for contribution to the development fund for capital expenditure for the year ending on the 31st day of December, 2021.

Buhari had explained that the proposed amount would be used to fund the COVID-19 vaccine programme and health-related expenditures for treatment of additional 50,000 patients under the Nigeria Comprehensive AIDS Programme in states.

He had also said that part of the money would be used to procure additional equipment captured in this year’s capital expenditure on Defence and Security to tackle prevalent security challenges across the country.

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