Barring last-minute changes, the House of Representatives is expected to pass the N6.2 trillion budget proposal.
As encapsulated in Tuesday’s Order Paper, the report of the House Committee on Appropriations, chaired by Hon. Abubakar Bichi is scheduled for consideration during plenary.
Recall that President Bola Tinubu had last week requested for the amendment of the 2024 Appropriation Act with a view to increase the N28.7 trillion expenditure earlier approved by the National Assembly, with an approval of N6.2 trillion.
The breakdown of the new expenditure, showed that N3.2 trillion is for implementation of capital projects while the sum of N3 trillion is for recurrent expenditure.
Speaking on Monday, during the budget defence season held at the instance of the House Committee on Appropriation, Minister of Budget and National Planning, Senator Atiku Bagudu reeled out some of the various priority projects to be carried out.
According to him, the N3 trillion recurrent expenditure bill when approved by the House will enable Federal Government to meet its financial obligation for the payment of the newly proposed national minimum wage.
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He also assured the Parliamentarians that the proposed N6.2 trillion expenditure will not limit the revenue available for the implementation of the N28.7 trillion expenditure approved by the Parliament.
I’m the same vein, the House is expected to receive the report of its Committee on Finance, chaired by Hon. James Abiodun Falake.
The Money bill which was transmitted alongside the N6.2 trillion Expenditure, seeks to amend the Finance Act, 2023 with a view to impose and charge Windfall Tax on Banks and Provide for the Administration of the Tax and for related matters.
In line with extant legislative practice and convention, both reports are to be considered during the Committee on Supply.
