The N6.2 trillion addition to the N27.5 trillion 2024 budget has been sent by President Bola Tinubu to the Senate for review and approval.
During Wednesday’s plenary session, the Senate President, Godswill Akpabio, delivered a letter from the President requesting the specific withdrawal of N3.2 trillion for capital expenditures from the Consolidated Revenue Fund.
In the second part of the proposal, the President asked to take out an additional N3 trillion for recurrent spending for the year that ends on December 31, 2024, from the consolidated revenue fund.
In the letter, Tinubu also requests an Act to modify the Finance Act of 2023, levy a windfall tax on banks, and handle concerns pertaining to the administration of the tax.
The Senate had previously placed the two petitions on its Order Paper as Executive legislation for prompt consideration.
The budget size will rise to N33.7 trillion if the requested N6 2 trillion is added to the N27 5 trillion 2024 budget.
