Tinubu to Submit N6.6trillion Supplementary Budget to National Assembly in July

President Bola Tinubu is set to submit a N6.6trillion supplementary budget to the National Assembly for consideration in July.

The Senate spokesperson, Yemi Adaramodu, said the N6.6trillion supplementary budget was still being computed by the executive but would be sent to the National Assembly after its resumption on July 2.

When asked about the budget size, considering that the minister said that the supplementary budget would fund part of the coastal road, he stated, “The budget size is N6.6trillion.”

This decision is closely related to the nation’s anticipated allocation of 5.4 trillion naira to maintain fixed petrol prices, a 50% increase from 2023, according to a draft document seen by Reuters.

The “Accelerated Stabilisation and Advancement Plan” (ASAP), created by the finance ministry in collaboration with private sector executives and economists, aims to address the challenges arising from reforms designed to stimulate economic growth

The Senate spokesperson, Yemi Adaramodu, said the N6.6trillion supplementary budget was still being computed by the executive but would be sent to the National Assembly after its resumption on July 2.

When asked about the budget size, considering that the minister said that the supplementary budget would fund part of the coastal road, he stated, “The budget size is N6.6trillion.”

This decision is closely related to the nation’s anticipated allocation of 5.4 trillion naira to maintain fixed petrol prices, a 50% increase from 2023, according to a draft document seen by Reuters.

The “Accelerated Stabilisation and Advancement Plan” (ASAP), created by the finance ministry in collaboration with private sector executives and economists, aims to address the challenges arising from reforms designed to stimulate economic growth