President Bola Ahmed Tinubu has forwarded a letter to the Senate for consideration and approval of injection of N6.2 trillion into the N27.5 trillion 2024 budget.
In the request letter read on the floor of the Senate by its president, Godswill Akpabio, during plenary in Abuja on Wednesday, Tinubu basically demanded withdrawal of N3.2 trillion from the Consolidated Revenue Fund for capital expenditure.
In the second leg of the request, the president sought withdrawal of another N3 trillion from the consolidated revenue fund for additional recurrent expenditure for the year ending on December 31, 2024.
The letter also indicated that Tinubu is also seeking an Act to amend the Finance Act of 2023, to impose and charge windfall tax on banks and to provide for the administration of the tax and matters related thereto.
The Senate has already listed the two requests on its Order Paper as Executive bills for consideration.
If the requested N6 2 trillion is injected into the N27.5 trillion 2024 budget, the budget capacity will increase to N33.7 trillion.
