On Tuesday, October 31, Nigerians woke up to the news that President Bola Tinubu is seeking the approval of a supplementary budget of ₦2.17 trillion, which bumps up the 2023 appropriation bill President Buhari’s government signed.

Key Takeaways from President Tinubu’s ₦2.1 Trillion Supplementary Budget

This comes weeks after he proposed a total of ₦26 trillion for the 2024 budget. 

Tinubu’s request has sparked reactions from Nigerians who have criticised the expenses despite the current economic hardship in the country.

Some of the key spends in the additional budget:

  • ₦1.5 billion on vehicles for the office of the first lady
  • ₦2.9 billion on SUVs for the presidential villa
  • ₦2.9 billion to replace operational vehicles for the presidency
  • ₦4 billion on renovation of the president’s residential quarters
  • ₦2.5 billion on renovation of the vice president’s residence
  • ₦28 billion for the state house
  • ₦12.5 billion on the presidential air fleet
  • ₦476 billion for national defense and security
  • ₦210 billion for the payment of wage awards
Key Takeaways from President Tinubu’s ₦2.1 Trillion Supplementary Budget

Further breakdown of the budget: 

Has the budget been approved?

The Federal Executive Council (FEC) approved the supplementary budget on Monday, October 30, pending the approval of the National Assembly. 

As of Tuesday, October 31, President Tinubu’s ₦2.1 trillion supplementary appropriations bill had passed for second reading at the House of Representatives.

Senate President Godswill Akpabio also read the president’s request on the floor of the upper legislative chamber.

“It has now become necessary to make further provision for additional palliative including the wage awards for public servants and the enhanced cash programme for vulnerable members of our society.

“In addition, defense has become critical to provide for peace and to secure the lives and properties without which the economic agenda of the administration cannot be achieved,” President Tinubu’s request read in part.

What are Nigerians saying?

Many Nigerians have aired reservations against the president’s request, noting that some of the earmarked funds are unnecessary and come off as insensitive to the plight of citizens. 

This is a developing story.

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