In a unanimous decision, both the Senate and the House of Representatives passed the N2.17 trillion 2023 Supplementary Appropriation Bill after its third reading on Thursday.
This significant milestone was achieved after the Senate adopted the report of the harmonized sittings of both chambers on the 2023 Supplementary Appropriation Bill, which was presented by Senator Solomon Olamilekan Adeola, the Chairman of the Appropriations Committee, representing APC Ogun West.
Lawmakers in both the upper and lower chambers expeditiously moved the bill through the legislative process, emphasizing that it is in the best interest of the nation.
President Bola Tinubu had previously written to the National Assembly, seeking approval for the sum of N2,176,791,286,033 as a 2023 supplementary budget. This budget is intended to address critical areas, including labor wage adjustments, security, and other important matters.
Additionally, Tinubu submitted the 2024-2026 Medium-Term Expenditure Framework (MTEF) & Fiscal Strategy Paper to both chambers of the National Assembly.
The Senate had already passed a provision of N819 billion, including a N500 billion palliative package, in response to the urgent need for additional measures, such as wage awards.
The Senate also identified areas that require immediate attention, including infrastructure, security, labor demands (N210 billion wage award payment), and the N5.5 billion student loan.