The House of Representatives is set to repeal the 2024 Appropriation Act, which provided for N35.056 trillion in expenditure for the 2024 fiscal year.
As encapsulated in the Order Paper for the special plenary, the House is to rescind its resolution on the Appropriations Act (amendment), 2024, passed on Tuesday, July 23, 2024.
According to the motion, the Directorate of Legal Services observed some legal issues that require reconsideration.
The House observed that Clauses 13 and 14 of the Bill, as well as the long title and Explanatory Memorandum, need to be amended to reflect the intent of the Appropriation Act.
Hence, the proponent of the motion underscored the need to rescind the House decision on the Long Title, Explanatory Memorandum, and Clauses 13 and 14 of the Bill.
A Bill for an Act to repeal the Appropriation Act, 2024, and enact the Appropriation Act 2024 to authorise the issue from the Consolidated Revenue Fund of the Federation of the total sum of N35,055,536,770,218 of which N1,742,786,788,150 is for Statutory Transfers, N8,270,960,606,831 is for Debt Service, N11,268,513,380,853 is for Recurrent (Non-Debt) Expenditure, and the sum of N13,773,275,994,384 is for contribution to the Development Fund for Capital Expenditure for the year ending December 31, 2024.
In line with existing legislative practice, the bill is to be considered by the Committee of Supply.
In the same vein, the lawmakers are to consider and pass a bill seeking to “amend the Central Bank of Nigeria Act to increase the Central Bank of Nigeria’s total advances to the Federal Government from five per cent to a maximum of 15 per cent and for related matters.
The bill, which was gazetted for first reading, is to be given accelerated consideration and passed through third reading before the House adjourned sine die.
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