Reps Extend Implementation of N819bn Supplementary Budget
Femi Gbajabiamila, Speaker of the House of Representatives of Nigeria
The House of Representatives on Sunday passed a bill extending the implementation of the capital aspect of the 2023 N819 billion supplementary budget from June 30 to Dec. 31.
The Speaker of the House of Representatives, Femi Gbajabiamila, has convened an emergency session of the House less than 24 hours before the transition to a new administration after eight years of President Muhammadu Buhari.
The bill that sought to approve N819 billion for capital expenditure was considered at the Committee of Supply, thereby raising the budget deficit 2022 to N8.17 trillion and GDP ratio to 4.43 per cent.
The bill is expected to be transmitted to President Muhammadu Buhari for assent before his tenure ends at midnight.
A bill for an Act to Repeal the Produce and Enforcement of Export Standards Act, 2004 and Enact the Federal Produce Inspection Service Enforcement of Export Standards was also considered.
The bill was to provide for the Inspection and enforcement of grades and quality standards of produce and commodities intended for export from Nigeria at ports of shipment.
