Representatives increase supplementary budget by 86 billion naira, suspend loan application

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House of Representatives

Representatives increase supplementary budget by 86 billion naira, suspend loan application

On Wednesday, the House of Representatives approved the federal government’s supplementary appropriations bill for 2021, raising the project’s estimates from 895.84 billion naira to 982.73 billion naira.

The House appropriations committee increased the amount to 86.89 billion naira in its report tabled earlier on Tuesday.

On Wednesday, the House considered the recommendation in Committee of Supply and unanimously adopted the report in plenary.

The cover letter on the bill presented to the National Assembly by President Muhammadu Buhari read in part: “The supplementary budget request is for a total sum of N 895, 842, 465, 917”.

The House Committee on Appropriations, however, recommended a total sum of 982.73 billion naira of which 123.33 billion naira for recurrent expenditure (not related to debt) while the sum of 859.4 billion naira is intended for the contribution to the development fund for the capital expenditure of the year. ending December 31, 2021.

Explaining the increase, the chairman of the committee, Muktar Betara, said: “The proposal submitted by Mr. additional funds for the adjustment of salaries in the civil service.

“The committee engaged with relevant parties such as the Minister of Finance, Budget and National Planning; the Federation Budget Office and the management of the relevant standing committees.

“The committee made observations as outlined in our report and took due note of the proposal, in particular the submission by the Defense Ministry that their budget request is the minimum requirement to secure the country and meet the enormous challenges. security in the country.

“In dealing with this additional bill, the committee also took careful note and considered all items such as the COVID-19 program in general, capital and recurring heads, including income and sources of funding. “

Betara added: “The House Appropriations Committee, together with its Senate counterpart, worked extensively and tirelessly on the Supplementary Estimates and recommended a harmonized position, especially for an upward revision of agencies. severely underfunded security.

“They include the Nigerian Navy, the Ministry of Police Affairs, the Defense Intelligence Agency, the Department of State Security, and the Economic and Financial Crimes Commission.”

Meanwhile, the House abandoned consideration of the report of its committee on AIDS, loans and debt management chaired by Ahmed Safana.

The review had been on today’s soap opera, with Safana having to urge the House to approve Buhari’s request for the implementation of the new external borrowing of 2.34 billion naira (about 6.18 billion dollars) in the 2021 finance law through the issuance of Eurobonds on the international capital market.

However, the House also adopted a statutory budget with estimates totaling N74,773,601,916.30 for the Nigeria Police Trust Fund in 2021.

This followed the consideration and adoption of the report by the House Policing Committee chaired by Bello Kumo.


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