President Muhammadu Buhari on Tuesday sent a 2018 supplementary budget proposal to the Senate with a request that N228bn should be allocated from this year’s budget insertions by the National Assembly to fund critical projects.
The President’s supplementary budget proposal was read on the floor of the Senate by the Senate President, Bukola Saraki.
President Buhari in the letter stated that it became imperative to submit the supplementary budget so that required funds can be made available to INEC and other agencies ahead of the 2019 general elections.
According to him, a total of N242 billion will be required for the conduct of the 2019 general elections in the country out of which N164 billion will be through virement while the remaining N78 billion will be included in the 2019 budget proposal.
He, therefore, asked the Senate to allocate N228bn from the N578bn initially allocated by the National Assembly in the 2018 budget to fund some of the critical projects highlighted in the supplementary budget proposal.
His words: “I’m therefore requesting that you relocate some of the funds appropriated for new projects which were inserted into the 2018 budget proposal totaling N578bn to cover the sum of N228bn required”.