Senate Passes N2.17 Trillion 2023 Supplementary Budget

*House cancels presidential yacht from fiscal document, raises student loan to N10bn*FG: Presidential yacht listed in budget is operational Naval boat 

Olawale Ajimotokan, Sunday Aborisade and Juliet Akoje in Abuja.

The Senate yesterday approved the 2.17 trillion supplementary budget for the 2023 fiscal year, as proposed by President Bola Tinubu.
However, the House of Representatives, yesterday, scrapped the budgetary allocation of N5.095 billion for the purchase of a presidential yatch in the 2023 supplementary budget.

But the federal government yesterday, gave clarity on the public outcry that had trailed the presidential yacht and some other line items in the supplementary appropriation presented to the National Assembly.
At the red chamber, the Senate President, Godswill Akpabio announced the approval after majority of the Senators supported it through a voice vote at plenary.
The supplementary budget was earlier considered and approved at the Committee of Supply before it was passed at plenary.

The Chairman of the Senate Committee on Appropriation, Senator Solomon Adeola, submitted the report on the appropriation budget for consideration.
Unlike their counterpart at the House of Representatives, the Senate was silent on the controversial N5 billion for the purchase of the Presidential Yacht.
The approval of the supplementary budget was sequel to the consideration of the report of the Senate Committee on Appropriation.

In his presentation, Senator Adeola recommended that N18 billion be approved for Statutory Transfers, N1.3 trillion (N1,033,471,162,373) for Recurrent (non-debt) expenditure and N1.1 trillion (N1,125,320,123,660) as contribution to the Development Fund for Capital Expenditure for the year ending.
He listed the ministries, departments and agencies of the federal government that would benefit from the supplementary budget as Independent National Electoral Commission (INEC), the Ministry of Defence, Police Formations and Command and Office of the National Security Adviser
They also include the Department of State Services, Federal Ministry of Agriculture and Food Security, Ministry of Works, Ministry of Housing and Federal Capital Territory Administration. The Senate President subjected the committee’s report to a voice vote and majority of the senators supported its approval.
The report of the Senate Appropriation panel was silent on the N5,095,200,000 voted for presidential yacht. The supplementary budget was read at both chambers of the National Assembly on Tuesday, and it was passed for second reading, on same day.

Tinubu, in his letter specifically sought the National Assembly’s approval for a supplementary appropriation bill of N2,176,791,286,033.
Tinubu, said the supplementary budget was aimed at addressing labour wage adjustments, security, and other matters.
The bill seeks to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N2,176,791,286,033 of which N18 billion was for Statutory Transfers, N992,802,015,985, was for recurrent (non-debt) expenditure while the sum of N1,165,989,2 70,049 was for contribution to the Development Fund for Capital Expenditure for the year ending on 31 December 2023. In addition, the sum of N210 billion was for wage award; N400 billion was budgeted for cash transfer to vulnerable households; while N200 billion was for Seed and Agricultural Inputs and equipment.

Also in the bill, the sum of N100 billion was for projects in Abuja; N604 billion for National Security and Defence; N300 billion for the maintenance of Bridges across Nigeria; N8 billion for the Ministry of Marine and Blue Economy and other new Ministries, while N18 billion was for the conduct of elections in Kogi, Bayelsa and Imo States.
Also, Tinubu in the supplementary budget proposed to spend over N7.3 billion on procurement of vehicles for the State House, among others.

House Removes Presidential Yacht from Supplementary Budget, Raises Student Loan to N10bn

The House of Representatives, yesterday scrapped the budgetary allocation of N5.095 billion for the presidential yatch in the 2023 supplementary budget.
The Chairman of the House of Representatives Committee on Appropriation, Hon. Abubakar Bichi, while briefing journalists yesterday, said the budgetary allocation for student loan was however, raised from N5 billion to N10 billion.
While speaking on the presidential yacht, the committee Chairman stated, “Actually, as far we are concerned, we don’t have that anymore. We have increased the student loan.

“Initially, student loan was N5 billion in the budget but we have increased it to N5 billion so that our students can access that facility in order for them to go to school. We don’t have the yatch anymore in budget.”
He also said the committee increased budgetary allocation of the Ministry of Defence from N476 billion to N546 billion following security concerns.
“We have submitted our reports to the House and after a careful  consideration, the House has approved our submissions and the breakdown is as follows.
“As you know, the budget is about N2.1 trillion and the Ministry of Defence has about N456 billion, but currently, Ministry of Defence has the largest share because we know how important our security is.

“As you aware, we have interaction with them yesterday. Currently, we have increased their budget from N456 billion to N546, 209,099,671 billion.”
According to him “For Police formation and command, we gave them N50 billion while the FCT has about N100 billion. You know the FCT is very important to us, so we want to make sure that the FCT can compete with any state in the world. That is why we gave them N100 billion.
“On the Office of National Security, their initial budget was N27 billion, but currently we have increased their budget to N50 billion. For the State House, their initial budget was N28 billion and we maintained that.

“On Ministry of Agriculture and Food Security, you know how important that ministry is, we maintained their initial figure of N200 billion as well.”
He further disclosed that, “For INEC, initially their budget was N18 billion, and yesterday we had an interaction with the INEC Chairman and he convinced us with his submissions and we maintained their N18 billion.

“So far, we have approved N2,176, 791, 286, 33 trillion. We will continue to support the government so that we can deliver democracy.”
He further assured Nigerians that lawmakers would ensure adequate oversight, saying, “our members especially those standing committees oversight those project and ensure the money are used judiciously. “From now to three months we are going to call them and ask them what they have done with the money.”

FG Says Presidential Yacht Envisaged in Budget is Operational Naval Boat

Meanwhile, the federal government has given clarity on the public outcry that trailed the presidential yacht and other line items in the 2023 Supplementary Appropriation presented to the National Assembly.

The Special Adviser to the President on Information & Strategy, Bayo Onanuga, said in a statement yesterday, that what was named as Presidential Yacht in the budget was an Operational Naval boat with specialised security gadgets suitable for high profile operational inspection and not for the use of the President.
He said the clarification was necessary given that President Bola Tinubu’s administration respected the views of Nigerians on all matters of public concern.
Onanuga, said the boat was called presidential yacht by way of nomenclature because of the high level security features.
 “The Naval boat was ordered by the Navy under the previous administration. President Tinubu has consistently said that government is a continuum as he inherited both assets and liabilities of past administrations.

“The payment request for the boat was part of the committed obligation submitted by the office of the Chief of Naval Staff to the Ministry of Defence. The total of the submitted requests was in excess of N200 billion out which N62 billion was approved by the President,” the presidential aide said
He added that Tinubu was focused on securing the country and its territorial waters.
He said the federal government under Tinubu’s leadership was investing more resources to enhance greater economic output from our oil and gas, marine and blue economy.

“In President Tinubu, we have a leader who understands the economic challenges being faced by the masses. His administration is working very hard to confront and surmount those challenges. Nigerians will soon get the benefits of the ongoing reforms that will certainly lead to a buoyant and improved quality of life for all citizens,” he said.