President Bola Tinubu has written to the Senate seeking the amendment of the N27.5 trillion 2024 budget to enable the administration withdraw N6.2 trillion from the consolidated revenue fund.
If approved, the N6.2 trillion will be injected into the 2024 budget, thereby increasing the budget to N33.7 trillion.
The President, in the letter read on the floor of the Senate by its President, Godswill Akpabio, during plenary on Wednesday, sought for withdrawal of N3.2 trillion from the Consolidated Revenue Fund, for capital expenditure and another N3 trillion from the same source for additional recurrent expenditure for the year ending December 31, 2024.
According to the letter, 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.
For expeditious consideration, the Senate had already listed the two requests on its Order Paper as Executive bills for consideration.
