…Approve N30bn For Severance/Inauguration of Outgoing, Incoming 9th and 10th Assembly
The House of Representatives greenlit the extension of the N2.177 trillion Supplementary Act, 2023, to June 30, 2024, responding to President Bola Tinubu’s request. This decision comes with detailed allocations across crucial sectors, highlighting the nation’s fiscal priorities.
According to the approved budget breakdown, key allocations include N967.5 billion for Statutory Transfers, N6.56 trillion for Debt Service, N8.33 trillion for Recurrent Expenditure, and N5.97 trillion for Capital Expenditure, all targeting vital national development areas.
Specifically, allocations were made to various institutions: N165 billion for the National Judicial Council (NJC), N119.94 billion for the Niger-Delta Development Commission (NDDC), N103.29 billion for Universal Basic Education (UBE), among others, showcasing a diversified investment approach.
Moreover, the House endorsed allocations for legislative functions, including N30.17 billion for Severance/Inauguration and N51.99 billion for the House of Representatives, emphasizing governance and parliamentary infrastructure.
Additionally, the budget extension addresses critical financial aspects such as debt servicing, with N6.56 trillion allocated, and Recurrent Expenditure at N8.33 trillion, reflecting prudent financial management strategies.
Furthermore, the Ministry of Defence received N546.21 billion, while allocations for security agencies like the Police Formations, National Security Adviser’s Office (ONSA), and the Department of State Services (DSS) were also earmarked, underlining the nation’s commitment to security.
The House’s adjournment till April 16, 2024, for the Easter and Sallah celebrations marks a strategic pause in legislative activities, aligning with festive periods and national observances.
In a separate legislative move, the House passed a bill prescribing salaries, allowances, and benefits for judicial office holders. This includes comprehensive packages covering basic salaries, regular allowances, leave benefits, and motor vehicle loans, aimed at ensuring a conducive working environment for judicial officers across different hierarchies.
If enacted, the bill would set the Chief Justice of Nigeria’s total monthly package at N5.39 million, with other judicial positions receiving varying compensation packages, reflecting the importance of a robust judicial system in national governance.
