Tuesday, July 27, 2021

Senate Passes N895bn Supplementary Budget

The senate has passed a supplementary budget of N895 billion for the year 2021.

The budget was passed on Wednesday after Jibrin Barau, chairman of appropriation committee, presented a report during the plenary session.

While presenting his report, Barau said his committee engaged with Zainab Ahmed, minister of finance, and other stakeholders on the request.

While N722 billion was earmarked for contribution to the development fund, N173 was fixed for recurrent non-debt expenditure.

President Muhammadu Buhari asked the national assembly to approve the supplementary budget request in June.

On June 9, the federal executive council approved the said sum.

The budget is meant to boost military operations and facilitate the procurement of COVID-19 vaccine.

After the supplementary budget was passed, Senate President Ahmad Lawan said the relevant committees of the upper legislative chamber must carry out oversight to ensure that the funds are properly utilised.

Also Read: Senate Approves N74.7bn Budget For Police Trust Fund

“Committees should be alive to know these funds are applied. This is a very necessary intervention by this senate for the country,” Lawan said.

“We have to continue to fund our security agencies even in the 2022 appropriation bill to overcome these security challenges.”

Buhari had presented the initial 2021 budget proposal of N13.08 trillion to a joint sitting of the national assembly on October 8, 2020.

We would like to keep you updated with special notifications.