The Senate has announced that President Bola Ahmed Tinubu will present the 2024 budget to the House for approval after its resumption on July 2, News About Nigeria reports.
The Senate spokesperson, Yemi Adaramodu, stated this while speaking to newsmen, noting that the N6.6 trillion supplementary budget is, however, still being computed by the Executive.
According to him, the budget and other important executive communications will be passed after the Assembly returns from the Sallah break in July.
He also noted that the budget will fund part of the coastal road.
“The budget would be sent any time we resume after the Sallah recess. I believe the bill and other important executive communication will be sent to the National Assembly when we resume in July,” he stated.
Recall that President Bola Tinubu, during his speech to the joint sitting of the Senate and House of Representatives at the National Assembly complex on May 29, stated that the government would soon present the supplementary budget for the 2024 fiscal year.
Also, last week, Minister of Budget and Economic Planning, Senator Atiku Bagudu, at a joint briefing of the Joint Senate and House of Representatives Committee on National Planning and Economic Affairs over the proposed Supplementary Appropriation Bill, revealed that the supplementary budget was still being prepared.
He noted that the supplementary budget would be spent on four identified transformational projects.
“The supplementary budget that was announced, or rather mentioned, came about when Mr. President presented a memo to the Federal Executive Council.
“In the memo, he said that he inherited the Presidential Infrastructure Development Fund, which was domiciled in the National Sovereign Wealth Investment Authority.
“He has also identified transformational projects, including Lagos-Calabar, the Coastal Road, the proposed Sokoto-Badagri Road, and the completion of all ongoing railway projects for which we have not provided counterpart funding,” he stated.
