N6.2trn Appropriation Act amendment bill passes Second Reading at Reps

The House of the House of Representatives on Wednesday passed for second reading a bill seeking to amend the Appropriation Act, 2024 to provide for the issuance of N6.2tn from the Consolidated Revenue Fund of the Federation.

The executive bill which was read on the floor of the Green Chamber by the House leader, Julius Ihonvbere is made up of N3.2trn for capital expenditure while the sum of N3tn is for recurrent expenditure for the year ending December 31, 2024.

Recall that on May 29, 2024, President Bola Tinubu pledged his readiness to transmit a supplementary budget to the National Assembly for consideration and passage.

On June 26, 2024, the President wrote to the parliament seeking an extension of the implementation timeline of the capital component of the 2023 Appropriation Act and the 2023 Supplementary Appropriation Act. Both prayers were granted.

…Details later