Speedy Passage for National Interest: S
enator Ali Ndume, Vice Chairman of the Senate Committee on Appropriation, clarified that the National Assembly approved the budget swiftly to benefit the nation.
Supporting New Ministries:
The budget was expedited to provide necessary funding for the commencement of new ministries created by President Bola Tinubu’s administration.
Food Security and Agriculture:
Funds were allocated to the Ministry of Agriculture to purchase grains for palliatives, encouraging farmers to engage in dry-season farming and ensure food security.
Addressing Rising Costs:
The recent increase in fuel prices, essential services, and food items prompted the need for budgetary adjustments. Strikes and negotiations with labor unions led to agreements, including a N35,000 bonus for over 1.5 million workers, reflected in the supplementary budget.
Supporting Students with Loans:
In response to tuition fee hikes in tertiary institutions, the government provided loans to students, with N10 billion earmarked in the supplementary budget.
Yacht Funding Reallocation:
Initially, N5 billion was allocated for a presidential yacht, which caused public concern. However, the Senate and House of Representatives jointly agreed to transfer the funds to student loans, bringing the total to N10 billion.
Additional Funds for INEC:
The supplementary budget also ensured funding for the Independent National Electoral Commission (INEC) to conduct off-cycle elections in Bayelsa, Imo, and Kogi states on November 11.
Support for Security Forces:
Allocations were made to the Nigeria Police Force, Nigerian Army, and other security agencies to facilitate election supervision, personnel allowances, and operational costs.
Investing in Housing and Infrastructure:
N100 billion was allocated to the housing sector to address housing deficits in urban areas. Additionally, N300 billion was directed to the Federal Ministry of Works to enhance road infrastructure, especially during the dry season.
Geopolitical Road Development:
Each geopolitical zone in the country received N8 billion to improve roads in their respective areas.
Maintenance and Aircraft Fleet:
Funds were allocated to the State House for the maintenance of the presidential aircraft fleet, which were inherited by President Bola Tinubu.
Parliamentary Involvement and Satisfaction:
Senator Ndume emphasized the National Assembly’s role in scrutinizing the budget and expressed satisfaction with the answers provided.
The article concludes by summarizing the key reasons for the quick approval of the 2023 Supplementary Budget, as explained by Senator Ali NdumeRead More On The Topic On TDPel Media