National Assembly Approves N574bn Supplementary Budget

A sum of 574 billion naira supplementary budget has been approved by the National Assembly.The supplementary budget was sent to the National Assembly by President Muhammadu Buhari on November 18, 2015.It would be recalled that the President had earlier made a request of N465.6 billion, but the amount was reviewed by the National Assembly, adding N108.9.The National Assembly added that the additional 108 billion naira will offset subsidy debts for the last quarter of 2015 which was not captured in the 2015 budget.The upper legislative chamber further stated that the addition was to ensure the un-captured amount in the 2015 budget which, if not funded, might lead to an industrial action that could result in fuel scarcity.