The House of Representatives, on Wednesday, passed the supplementary budget submitted last month to both chambers of the National Assembly by President Muhammadu Buhari, raising the sum by N87 billion.
Buhari had in a letter dated 15th June and addressed to the parliament proposed N895.842,465,917 billion.
In the letter, he explained that the amount captured was to fund the COVID-19 vaccine programme, health related expenditures for 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.
But the House Committee on Appropriation, in its report presented by the Chairman Hon. Muktar Betara, increased the budget size to N982,729,695,343.
He said N123,332,174,164 was for recurrent (non-debt) expenditure, while the sum of N859, 397,521,179 was for contribution to the development fund for capital expenditure for the year ending on the 31st day of December, 2021.
According to him, 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.
Betara said, “That the House do consider the Report of the Committee on Appropriations on a A Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N 982,729,695,343 (Nine Hundred and Eighty-Two Billion, Seven Hundred and Twenty-Nine Million, Six Hundred and Ninety-Five Thousand, Three Hundred and Forty-Three Naira) only, of which N 123,332,174,164 (One Hundred and Twenty-Three Billion, Three Hundred and Thirty-Two Million, One Hundred and Seventy-Four Thousand, One Hundred and Sixty-Four Naira) only is for Recurrent (Non-Debt) Expenditure while the sum of N859,397,521,179 (Eight Hundred and Fifty-Nine Billion, Three Hundred and Ninety-Seven Million, Five Hundred and Twenty-One Thousand, One Hundred and Seventy-Nine Naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending 31 December, 2021.”