Reasons for Swift Supplementary Budget Approval
Akin Rotimi, the spokesperson for the House of Representatives, recently provided insights into why the National Assembly quickly gave its assent to a two trillion naira supplementary budget.
He shared his explanation during an appearance on Channels TV’s “Politics Today” on Friday, shedding light on the urgency behind this legislative decision.
Addressing the Fuel Subsidy Removal Impact
Rotimi pointed out that the legislators expedited the review process to allow the government to respond promptly to the hardships experienced due to the recent removal of fuel subsidy.
This removal had significant consequences on the lives of Nigerians, and the lawmakers recognized the need for swift action.
Responding to the Economic Impact
With the removal of fuel subsidy, the cost of living has significantly decreased, causing hardship for many Nigerians.
People are facing economic challenges, and the government needs to intervene urgently to improve their lives. In this context, the National Assembly’s quick response to the executive arm’s proposal for the supplementary budget is justified.
Focus on Agriculture and Food Security
One major aspect of the supplementary budget is its emphasis on agriculture and food security. Given the prevalent hunger and suffering in the country, the government’s provisions in these areas were deemed urgent. The National Assembly saw the need to expedite the passage of the supplementary budget to address these pressing concerns.
Analyst Concerns
The speed at which the National Assembly approved the supplementary budget has raised concerns among analysts.
This swift approval contrasts with the previous extensive scrutiny of budget provisions by the legislature. The change in approach has drawn attention and triggered discussions about the reasons behind this shift in the legislative process.
Share on Facebook «||»
Share on Twitter «||»
Share on Reddit «||»
Share on LinkedIn
Read Related News On TDPel Media
Advertisement
Senate Chief Whip Explains Swift Approval of 2023 Supplementary Budget: 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...
President Tinubu Proposes N2 Trillion Supplementary Budget in FEC Meeting: Nigerian News Roundup for Tuesday, 31st October 2023 President Tinubu to Present N2 Trillion Supplementary Budget to National Assembly President Bola Tinubu is set to...
Nigerian Senate Greenlights President Tinubu’s N2.17 Trillion Supplementary Budget: Nigerian Senate Approves President Tinubu’s N2.17 Trillion Supplementary Budget Request In a significant development, the Nigerian Senate has given its nod to President Bola Tinubu’s...
UAE aims to increase size of economy from AED1.4 trillion to AED3 trillion by 2030: Abdullah Al Marri: UAE aims to increase size of economy from AED1. 4 trillion to AED3 trillion by 2030: Abdullah Al Marri SHARJAH, 24th February, 2022 – Abdullah...
House of Representatives Committee on Appropriation Commits to Swift Passage of 2024 Budget: I. Introduction: A Swift Response to the Proposed Budget The House of Representatives Committee on Appropriation in Nigeria has declared its commitment to swiftly pass...
Budget 2022 Live Updates: Oppn slams it as ‘Pegasus spin budget’, ‘zero-sum budget’; PM hails it as ‘people-friendly’: That’s obviously on the behest of very rich people of the country. Instead of RBI, FM has virtually announced that Cryptocurrency is legal from today....
Supplementary Budget: President Buhari seeks additional N2.557trn for fuel subsidy: President Muhammadu Buhari has requested for amendment to the 2022 Appropriation Bill passed last December by the National Assembly, proposing additional N2. 557trillion as fund...
Presidential Villa Hosts Signing of 2023 Supplementary Budget by President Tinubu: President Bola Ahmed Tinubu has taken a significant step by signing the 2023 supplementary budget into law. The signing ceremony took place at the Presidential...
Peter Obi Slams 2023 Supplementary Budget, Cites Urgent National Needs: Peter Obi Criticizes 2023 Supplementary Budget, Highlights Urgent National Needs President Bola Tinubu Signs N2.17 Trillion 2023 Supplementary Budget Obi’s Concerns About Missing Urgent National...
Presidency Responds to Peter Obi’s Concerns on 2023 Supplementary Budget: The Presidency has issued a response to the 2023 presidential candidate of the Labour Party (LP), Peter Obi, regarding his observations on the 2023 Supplementary...