I need more money to implement my policies – Tinubu tells N’ AssemblyÂ
Nigeria’s President Bola Tinubu has said that he would be forwarding for the approval of the national assembly a supplementary budget.
Speaking at the joint session of the national assembly on Wednesday, held to commemorate Nigeria’s Democracy Day, President Tinubu informed the lawmakers of the coming supplementary budget.
He said: “I submitted the 2024 budget to you and you expeditiously passed it. We are walking the talk.
“I will soon bring the 2024 supplementary Appropriation Bill. Building this nation so that the future of our grandchildren will be filled with prosperity, development and progress is a step in the right direction.”
TheCornet had reported that Nigeria budgeted N27.5trillion for the 2024 fiscal year.
Of the sum, the government projected to spend ₦10 trillion on capital expenditure, ₦8.8 trillion on recurrent expenditure, and ₦8.2 trillion on debt serving, among others. The proposed to make ₦18.32trillion in revenue.
Nigeria depends largely on its oil imports to fund its budget.
The vagaries of the oil prices in the international market, unstable and weak exchange rates, devaluation of its currency, high cost of governance and corruption pose to a challenge to budget realisation.
