House Moves to Amend 2024 Budget by N6.2trn

By Gloria Essien, Abuja

The House of Representatives has passed for second reading a Bill seeking to amend the 2024 Appropriation Act to approve the issuance of N6.2 trillion naira for capital and recurrent expenditure.

The Speaker of the House Mr. Tajudeen Abbas read a letter from President Bola Tinubu which contained the request seeking authorisation of three trillion, two hundred billion naira from the Consolidated Revenue Fund for capital expenditure as well as another three trillion Naira for recurrent expenditure in 2024.

“The appropriation act amendment bill 2024 seeks to amend the principal act to provide the sum of N3.2trn for Renewed Hope infrastructure projects and other critical infrastructure projects to be undertaken across the country and N3trn to meet recurrent expenditure requirement necessary for the proper operation of the federal government expenditure, which is to be funded by the expected revenue accruing to the federal government” Rep. Abbas read.

According to the proposed legislation, which was approved for a second reading without debate, N3.2 trillion would be for capital expenditure, while N3 trillion would be for recurrent expenditure.

Before the passage of the 2024 Appropriation Act Amendment Bill, the House had gone into an executive session, which lasted for about an hour.

At the resumption of plenary, the Speaker Tajudeen Abbas, disclosed that the security and welfare of Nigerians was what was discussed at the executive session.

The Chairman, House Committee on Appropriation Mr. Abubakar Bichi says the executive Bill is to cater to critical infrastructure projects as well as the proposed minimum wage being negotiated with Labour.

Emmanuel Ukoh