The Senate on Tuesday extended the implementation period for the 2023 supplementary budget from March 31, 2024, to June 30, 2024.
The Senate had in December 2023, extended implementation of the N1.3tn supplementary budget from December 31, 2023, to March 31, 2024. But the Red Chamber in making further extension of the implementation period for the budget, gave an executive bill sponsored to that effect by its Leader, Senator Opeyemi Bamidele, expeditious consideration by passing it for second and third readings. Similarly, the Senate on Tuesday passed the sum of N446,342,656,992.00 as the 2024 budget of the Federal Inland Revenue Service.
The action of the Senate followed its adoption and approval of the recommendation of its Committee on Finance which considered the budget. The Chairman of the Committee, Senator Sani Musa (APC – Niger East) presented the report. Of the sum, according to the report, N177,441,479,682.00 is for Personnel Cost, N156,454,385,053.00 is for Overhead cost and N112,446,822,255.00 is for capital expenditure.