Tinubu signs N2.17tn supplementary budget

The N2.17 trillion 2023 supplemental appropriations bill has been signed into law by President Bola Tinubu.

In the presence of Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, Minister of Budget and National Planning Abubakar Bagudu, Secretary to the Government of the Federation George Akume, and Chairman of the Federal Inland Revenue Service Zacheaus Adedeji, Tinubu signed the Supplementary Appropriations Act, 2023 in his office at the State House.

A few days ago, a number of line items in the supplemental budget—most notably the N5 billion allotments for a “Presidential Yatch”—caused uproar.

On October 16, 2023, Bagudu addressed reporters at the State House and stated that the majority of the N605 billion had been set aside for security, with the goal of enhancing the ability of the security agencies and armed forces to handle both present and future security threats in the country.

In order to supplement the increased cost of living after subsidies, other items include N5.5 billion for the student loan program and over N616 billion in wage awards for civil officials.