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Senate Passes N895bn Supplementary Budget For Second Reading

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The Senate on Wednesday passed the 2021 Supplementary Appropriation Bill of N895, 842, 465, 917 for second reading.

Lawan, who gave the directive asked the Senator Barau Jibrin-led panel to submit its report on Tuesday next week. The report of the panel would be submitted, considered, and passed the same day.

The details of the supplementary budget showed that the Executive proposed to fund N45.63 billion of the N83. 56 billion required for the COVID-19 vaccine programme.

The balance of N37. 93 billion required for COVID-19 vaccines, salaries and other health-related expenditures totalling N41.6 billion and N48.2 billion recurrent component of defence and security will be funded by borrowing N135 billion from some special reserve levy accounts.

The Executive also proposed to fund the balance of N722.4 billion for capital expenditure on defense and security and capital supplementation from new borrowings in the absence of any supplementary revenue sources

President Muhammdu Buhari had on Tuesday transmitted the document to the National Assembly for consideration and approval.

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