Tinubu injects N6.2trn into 2024 Budget

By Matthew Denis

President Bola Tinubu has forwarded to the Senate for consideration and approval the injection of N6.2 trillion into the N27.5 trillion 2024 budget.

The President, in the request via a letter read on the floor of the Senate by its President, Godswill Akpabio, during plenary on Wednesday, specifically sought for withdrawal of N3.2 trillion from the Consolidated Revenue Fund, for capital expenditure.

The President in the second leg of the request sought for withdrawal of another N3 trillion from the consolidated revenue fund for additional recurrent expenditure for the year ending on December 31, 2024.

According to the letter, Tinubu is also seeking an Act to amend the Finance Act of 2023, to impose and charge windfall tax on banks and to provide for the administration of the tax and matters related thereto.

For expeditious consideration, the Senate had already listed the two requests on its Order Paper as Executive bills for consideration.

If the requested N6 2 trillion is injected into the N27 5 trillion 2024 budget, the budget size will increase to N33.7 trillion.