The House of Representatives is set to amend the 2024 Appropriation Act to approve an additional N6.2 trillion for unspecified capital projects.
The proposed amendment, detailed in a bill sponsored by the Majority Leader, Hon. Julius Ihonbvere, aims to authorize the issuance of N3.2 trillion for capital expenditures and N3 trillion for recurrent expenditures from the Consolidated Revenue Fund of the Federation for the year ending on December 31, 2024.
The breakdown of the proposed expenditures indicates a significant allocation for capital projects, amounting to N3.2 trillion, with an equally substantial N3 trillion designated for recurrent expenditure.
The bill has been scheduled for a Second Reading as per the Order Paper.
However, the lawmakers decided to suspend the scheduled legislative business and dissolve into an executive session as the day’s plenary session commenced.
SOURCE: Pilitics Nigeria
