The Senate expects President Bola Tinubu to submit the 2024 Supplementary budget for approval upon their return from recess on July 2. According to Senate spokesperson, Yemi Adaramodu, the executive is still finalizing the budget, estimated to be around N6.6 trillion. This supplementary budget aims to fund specific transformational projects, including the coastal road, Sokoto-Badagri Road, and completion of ongoing railway projects.
During his May 29 speech, President Tinubu announced his intention to present the supplementary budget, which will focus on infrastructure development, renewed health infrastructure priority items, and supporting increased production in the economy.
The Minister of Budget and Economic Planning, Senator Atiku Bagudu, confirmed that the supplementary budget is still being prepared and will be submitted to the Federal Executive Council for approval before being sent to the National Assembly.
The Senate is eager to receive the budget and begin the approval process, with Adaramodu assuring that the bill will be sent to the National Assembly upon their return from recess.
The supplementary budget is expected to have a significant impact on the country’s infrastructure and economic development.