Hey there, middle schoolers! We’ve got some exciting news from the House of Representatives. They just made some changes to the budget, and it’s pretty interesting. Let’s dive in!
So, the House of Representatives recently passed a budget called the 2023 supplementary budget. They had a meeting and talked about it, and then they voted on it. The person in charge of the budget committee, Abubakar Bichi, shared the news with reporters.
One of the big changes they made was removing something called the presidential yacht. This yacht was going to cost a whopping N5 billion! But the House decided that the money could be better used somewhere else. So, they took that N5 billion and put it towards student loans instead. Now, the student loans have a total of 10 billion Naira, which is a lot more than before.
Another change they made was giving more money to the Ministry of Defense. They increased the budget from 476 billion Naira to 546 billion Naira. This decision was made because they were worried about security issues and wanted to make sure the country is safe.
There were a few other things that happened too. They talked about the minimum wage for workers and decided to approve it. They also kept 100 billion Naira for the FCT, which is the Federal Capital Territory. And finally, they passed a total of 2.177 trillion Naira as the supplementary budget.
Before all these changes, the president had proposed spending a lot of money on things like vehicles for the First Lady and a presidential air fleet. But it looks like those plans didn’t make it into the final budget. The House decided to focus on other things instead.
Some people on social media are trying to stop the National Assembly from approving this budget. But it seems like the bill is moving forward pretty quickly. The Speaker of the House, Tajudeen Abbas, even said that the president will sign the bill on Friday.
That’s all the news for now, middle schoolers! Stay tuned for more updates.