President Bola Ahmed Tinubu has sent a letter to the Senate, requesting an additional N6.2 trillion for the 2024 budget.
Senate President Godswill Akpabio read the letter on Wednesday, which seeks to raise the total budget from N28.7 trillion to N34.9 trillion.
Advertorial
The proposed amendment includes N3.2 trillion allocated for infrastructure projects and N3 trillion for recurrent expenditure.
The letter highlighted the need to amend the appropriation act to fund the “Renewed Hope Infrastructure Projects” and other critical initiatives across the nation.
In the letter, President Tinubu stated, “Pursuant to section 58 (2) of the constitution of the Federal Republic of Nigeria as amended, I forward herewith the above-named bills for consideration and passage by the Senate.”
Advertorial
The letter further detailed, “The appropriation act amendment bill seeks to amend the principal act to provide the sum of N3,200,000,000,000 for Renewed Hope Infrastructure Projects and other critical infrastructure projects to be undertaken across the country and the sum of N3,000,000,000,000 to meet further recurrent expenditure requirements necessary for the proper operation of the federal government.”
President Tinubu specified that the additional funds would be sourced from federal government revenues.
