Tinubu seeks Senate approval to inject N6.2 trillion into 2024 budget

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 in a letter read out at the Senate building by its President, Godswill Akpabio, during a plenary session, in Abuja.

The President specifically requested the withdrawal of N3.2 trillion from the Consolidated Revenue Fund, for capital expenditure.

In the second stage of the application, the President requested the withdrawal of another Rp3 trillion from the consolidated revenue fund for additional routine expenditure for the year ending December 31, 2024.

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Tinubu in the letter also asked for a law to amend the Finance Act of 2023, to impose and collect a windfall tax on banks and to provide for the administration of the tax and matters related thereto.

For expeditious consideration, the Senate has listed both requests on its Order Paper as Executive Bills for consideration.

If the requested N6.2 trillion is injected into the 2024 budget of N27.5 trillion, the size of the budget will increase to N33.7 trillion.

Tinubu seeks Senate approval to inject N6.2 trillion into 2024 budget first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.