A federal lawmaker from Akwa Ibom state, Rt. Hon Unyime Idem, has called for patience and understanding from Nigerians in the face of biting economic realities in the country.
Idem who represents Ukanafun/Oruk Anam Federal Constituency believes that the release of funds will stimulate the economy and ameliorate the hardship faced by Nigerians.
His faith in an improved economy follows request for amendment of the 2024 Appropriation Act and the 2023 Finance Act by increasing the budget with ₦6.2tn as captured in a letter addressed to the Speaker of the House, Rt. Hon. Tajudeen Abbas.
The lawmaker who is the Chairman, House Committee on Public Procurement in an interview with newsmen said “let me use this medium to appeal to Nigerians to exercise a little patience with the Federal Government. Releases for items in the 2024 budget are ongoing and will go a long way to ameliorate the hardship citizens are facing.”
The President, in the letter, said
“The Appropriation Act Amendment Bill 2024 seeks to amend the principal Act to provide the sum of N3.2 trillion for Renewed Hope infrastructure projects and other critical infrastructure projects to be undertaken across the country.
“And the sum of N3 trillion to meet further recurrent expenditure requirements, necessary for the proper operation by the Federal Government expenditure, which is to be funded by expected revenue accruing to the Federal Government of Nigeria,” the letter read.
Tinubu added that the proposed amendments to the Finance Act 2023 were required to impose a one-time windfall tax on the foreign exchange gains realized by banks in their 2023 financial statements.
The President had on January 1, 2024, assented to the N28.7 trillion 2024 Appropriation Bill passed by the National Assembly.
The Bill has scaled second reading in the House of Representatives.
