President Bola Tinubu yesterday increased the appropriation bill for the 2025 fiscal year from N49.7 trillion to N54.2 trillion.
Tinubu announced the increment in separate letters, which he forwarded to both the Senate and the House of Representatives yesterday.
Minister of Budget and National Planning, Atiku Bagudu, explained that the increment was to allow for the approval of more revenue to strengthen the Bank of Agriculture and Bank of Industry.
Bagudu said the increase was also to support the administration’s diversification programme by putting more money in the solid minerals sector as well as infrastructure projects.
However, a member of the House of Representatives, Kingsley Chinda, faulted the procedure for the increment.
Chinda said the presentation from the executive should not have come in the form of a letter.
Tinubu’s letter was read during plenary in the Senate by Senate President Godswill Akpabio and in the House of Representatives by Speaker Tajudeen Abbas.
Tinubu attributed the N4.53 trillion added to the appropriation bill to an increment in revenues recorded by some revenue-generating agencies of the federal government.
