President Bola Tinubu on Wednesday forwarded to the Senate for consideration and approval a request for the injection of N6.2 trillion into the N27.5 trillion 2024 budget.
Tinubu made the request via a letter read on the floor of the Senate by its President, Godswill Akpabio, during plenary, in Abuja.
The President specifically sought for withdrawal of N3.2 trillion from the Consolidated Revenue Fund, for capital expenditure.
In the second leg of the request, the President sought for withdrawal of another N3 trillion from the consolidated revenue fund for additional recurrent expenditure for the year ending on December 31, 2024.
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Tinubu in the letter also sought an Act to amend the Finance Act of 2023, to impose and charge windfall tax on banks and to provide for the administration of the tax and matters related thereto.
For expeditious consideration, the Senate had already listed the two requests on its Order Paper as Executive bills for consideration.
If the requested N6.2 trillion is injected into the N27.5 trillion 2024 budget, the budget size will increase to N33.7 trillion.
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