Reps approve N982.730bn as supplementary budget

 

The House of Representatives, has approved the sum of N982,72 billion naira as a Supplementary budget for the 2021 fiscal year.

The approved amount was N87 billion above the N895,842,465,917 budget proposal submitted by President Muhammadu Buhari via a letter dated June 15, 2021.

The Chairman, House Committee on Appropriations, Muktar Betera, who presented the report, disclosed that the initial supplementary budget submitted by Mr President was increased to N982,729,695,343.

According to him, the sum of 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 December 31, 2021.

He added that all amounts appropriated under this Supplementary Act shall be released from the Consolidated Revenue Fund of the Federation only for the purpose specified in the Schedule to this Act.

According to President Buhari’s letter, the proposed N895,842,465,917 was to fund the COVID-19 vaccine programme, health-related expenditures for the treatment of additional 50,000 patients under the Nigeria Comprehensive AIDS Program in states, as well as to procure additional equipment captured in this year’s capital expenditure on Defence and Security to tackle prevalent security challenges across the country.

IBRAHIM SHEHU

Leave a Reply

Your email address will not be published. Required fields are marked *