By Henry Umoru & Joseph Erunke
ABUJA- THE Senate Tuesday passed a total sum of N574,532,726,857 as supplementary budget for President Muhammadu Buhari to be withdrawn from the Consolidated Revenue Fund of the Federation.
The approved N574,532,726,857 is for additional Recurrent( Non- Debt) Expenditure for the year ending on the 31 st day of December, 2015.
The Senate however jerked the original supplementary budget as submitted by President Buhari by N108,895,800,000, just as it said that the increase was designed to accommodate the said amount as additional funding for fuel subsidy for the months of October, November and December, 2015.
With the additional N109 billion by the Senate for fuel subsidy, it would now amount to N522,258,934,505 as against the backdrop that the President in the letter to the Senate had requested for N413 billion for fuel subsidy, just as N5,000,000,000 was approved as Victims Support Funds in the Capital Supplementation which would be re- classified to the Service Wide Vote of N559,217,800,017.
The Senate also approved a total sum of N29,958,865,512 to fight Boko Haram Insurgency in the North East and payment of outstanding claims in order to ameliorate the suffering of Nigerians under the heading, operation Zaman Lafiya, and of the approved money, Nigerian Army will get N17,468,992,640; Nigerian Airforce, N8,141,434,760; Nigerian Army outstanding balance from 2015 and second quarter, N4,348,438,112
It would be recalled that the Senate had penultimate Wednesday received a supplementary budget of N465,636,926,857 from President Muhammadu Buhari for consideration and approval. Read More →