The National Assembly has approved N504 billion out of which N500 billion will be for palliative to cushion the effects of subsidy removal on fuel , N2 billion for the construction of Iyin Ekiti to Ilawe Ekiti roads, N1 billion for Ijero Ekiti inner roads as well as N1 billion for Ado Ekiti inner roads.
Senate Leader, Opeyemi Bamidele representing Ekiti Central Senatorial Districts revealed to Journalists at Ikogosi Ekiti on Saturday at the 90th birthday ceremony of PA. Ezekiel Olukunle Oyebanji.
According to Senator Michael Opeyemi Bamidele,”The budget that was passed was an amendment to an earlier supplementary budget passed by the National Assembly in the year 2022 which was extended to December 2023 for implementation”.
He said the decision to give the latest approval was to ensure the Country is not littered with abandoned projects and solve the challenge of revenue dwindling. “Our revenue was trickling in, so we have to extend the life of the capital aspect of the Budget to be able to run simultaneously the 2023 budget till December 2023”, he revealed.
Adding that the approval was sequel to the request of President, Bola Ahmed Tinubu. “Our former President, President Muhammadu Buhari signed the supplementary budget for the year 2022 but could not be implemented before he left office”.
The Senate leader said, “the new President and His Excellency, President Bola Ahmed Tinubu sent a request to both chambers of the National Assembly requesting for the re-ordering of the supplementary budget to accommodate his desire to provide palliatives for Nigerians as part of his efforts to cushioning the effect of the withdrawal of the oil subsidy on Nigerians and correct some other economy measures that have been earlier taken by the previous administration in the Country. He identified one of the measures to include the collapse of the forex windows and it’s resultant economy impart on the people”.
Explaining further, Bamidele said, “the President felt he needed to provide palliatives. To do that, two measures were adopted; first was to send a request for the approval of a sum of $800 million to the National Assembly for approval. Secondly, President, Bola Ahmed Tinubu considered it necessary to re-represented the request for a loan which was earlier sought for by the former President Muhammadu Buhari but was turned down by the 9th Senate on the reason that it was done few days to the end of his administration in the Country. The new loan proposal was therefore said to have been approved with an amendment to the supplementary appropriation act by the 10th Senate before the close of work on Friday”.
He revealed that the 10th Senate considered it necessary to de- emphasized some of the projects that were earlier inputted by the former President Muhammadu Buhari to be able to provide a sum of N500 billion from that budget out of the total of N819 billion for the government to provide palliatives for Nigerians.
He also revealed that part of the new provisions made in the newly approved supplementary appropriation is a sum of N2 billion appropriated for the construction of the Iyin Ekiti to Ilawe Ekiti road, aimed at connecting not only the two towns or communities but that of the Ekiti Central Senatorial District with the Ekiti South Senatorial District.
He expressed the hope that the approval for the road linking the two communities of Iyin Ekiti and Ilawe Ekiti will help the new Federal College Of Education recently approved to be properly assessible and helped to open up the two communities and make life easier for the campus and people of the community.
He listed other projects approved in the new Supplementary appropriation by the National Assembly for Ekiti State to include a sum of N1billion for the construction of inner roads in Ado Ekiti and N1billion for the construction of inner roads in Ijero Ekiti.
While speaking, the senator commended the Governor of Ekiti State, Mr. Biodun Abayomi Oyebanji who met with all the National Assembly members from Ekiti State and presented the lists of projects that are of utmost concern to his government.
He added that the roads where funds have been approved by the 10th National Assembly in Ekiti State are all parts of the extension of the infrastructural development of His Excellency, Mr. Biodun Abayomi Oyebanji.