Barring any unforeseen developments, the presidency is set to present a Supplementary Appropriation Bill to the National Assembly on Thursday, estimated at N6.6 trillion, according to Senate Spokesperson Adeyemi Adaramodu.
Investigations by THISDAY revealed that the bill will include provisions for a new private jet for President Bola Tinubu and Vice President Kashim Shettima. To fund this purchase, three existing planes in the presidential fleet will be sold after being refurbished.
A high-ranking National Assembly official, speaking anonymously, confirmed the inclusion of one VIP jet with essential security features in the bill, countering rumors of two jets being purchased. The necessity stems from the inadequacy of the current fleet, leading to recent commercial flights by the president and his deputy, raising security concerns.
The 2024 Supplementary Appropriation Bill is expected to be introduced in both legislative chambers upon their return from the Sallah break on Tuesday next week. Adaramodu had previously announced the proposed budget's size, noting that its details were still under executive review.
Budget and Economic Planning Minister Atiku Bagudu, addressing a joint National Assembly committee, outlined that the bill will partly utilize the N50 billion Presidential Infrastructure Development Fund and seeks additional funding from the World Bank and other sources. The supplementary budget aims to support major projects like the Lagos-Calabar Coastal Road, Sokoto-Badagry Road, ongoing railway developments, and energy competitiveness initiatives.
Additionally, the bill may address the ongoing minimum wage negotiations, potentially adjusting the budget to account for increased wages and their economic impacts.
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politics