President Bola Tinubu has written the Senate, seeking for consideration and subsequent approval, injection of N6.2 trillion into the N27.5 trillion 2024 budget.
The President of the Senate, Senator Godswill Akpabio who read at plenary, said that President Tinubu specifically seeks for withdrawal of N3.2 trillion from the Consolidated Revenue Fund, for capital expenditure.
President Tinubu in the second leg of the request as contained in the letter is seeking the withdrawal of another N3trillion from the consolidated revenue fund for additional recurrent expenditure for the year ending on the 31st day of December 2024.
Mr President in the letter also seeks an Act to amend the Finance Act, of 2023, to impose and charge windfall tax on banks and to provide for the administration of the tax and matters related thereto.
For expeditious consideration, the Senate had already listed the two requests on its Order Paper as Executive bills for consideration.
If the requested N6 2 trillion is injected into the N27 5 trillion 2024 budget, the budget size will increase to N33.7 trillion.
Details later…
