N6.2tn budget Amendment Bill goes for third reading as FG votes N2tn for Lagos-Calabar coastal highway, others

The National Assembly on Tuesday passed the N6.2tn budget amendment bill for third reading.
The bill was passed after the Chairman of the Senate Committee on Appropriation, Olamilekan Adeola, presented his committee’s report on the 2024 Appropriation (Amendment) Bill.
From the bill, the Federal Government is to spend about N2tn on the Lagos-Calabar highway and other road projects.
Recall that President Bola Tinubu, on July 17, 2024, transmitted to the Senate a bill for an Act to amend the Appropriation Act, 2024 to provide for the sum of N6.2tn with N3.2tn for capital expenditure and N3tn for recurrent expenditure.
The document showed that N700bn would be used for the country’s coastal road that would run from Lagos to Calabar, traversing Lagos, Ogun, Ondo, Delta, Bayelsa, Port Harcourt, Akwa Ibom, and Cross River states.
Whereas, Port-Harcourt to Maiduguri railway line would gulp N530bn, as the line would pass through Abia, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Kaduna, Bauchi, Gombe, Yobe and Borno states.
The appropriation would also takes care of the Badagry to Tin Can Port, Lekki Port, Ijebu Ode, and Kajola.
READ ALSO: Tinubu hails Lagos-Calabar Coastal highway as symbol of hope, unity, prosperity
Meanwhile, the African Trans-Sahara Highway (to traverse Benue, Kogi, Nasarawa, Abuja), is to take the sum of N200bn.
The bill also stated that the water, irrigation, and dam development project, among others, would take N349bn, while the Livestock Development Programme was awarded N75bn.
Adeola, during the presentation of the bill, said: “The bill was read the first and second time and referred to the Committee on Appropriations for further legislative action.
“The Senate may also recall that the 2024 Appropriation Bill was passed into law by the National Assembly in the sum of N28.7tn and was subsequently assented to by the President on January 1, 2024.
“The 2024 Appropriation Act (Amendment) Bill seeks to among others, make available additional funds for Renewed Hope Infrastructure Development Projects, to be undertaken across the country and to meet other recurrent expenditure requirements, such as the minimum wage increase necessary for effective governance of the federation.
“The committee met and deliberated with the Minister of Budget and Economic Planning and deliberated on the scope of the bill, as well as, its source of funding the projects.
“Subsequently, the committee processed the bill together with its House counterpart in line with relevant rules of legislative practice and procedures. I, therefore, present this harmonised report on the Amendment Bill, 2024 for consideration and passage of the Senate.”
The bill was thereafter passed for the third reading after a voice vote by the Senate President.
Other highlights of the amended budget, as presented by Adeola and adopted by the Senate include N1.742tn for statutory transfers and N8.27tn for debt service
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