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The House of Representatives has assured thatvit will pass the Petroleum Industry Bill,the 2021 Supplementary Appropriation Bill of N895.8 billion presented to it by President Muhammadu Buhari,and Electoral Act in two weeks.
Speaker of the House, Femi Gbajabiamila announced this after reading a Communication from President Muhammadu Buhari, requesting lawmakers’ approval of the 2021 Supplementary Appropriation at the resumed plenary on Tuesday.
President Buhari in the letter read on the floor of the House said that it has become necessary to prepare the 2021 supplementary Appropriation Bill, considering the urgent need to make provision for procurement and administration of COVID-19 vaccines.
He said : “We propose to fund N45.63 billion of the N83. 56 billion required for the COVID-19 vaccine programme by drawing on existing World Bank loans which will be a structured as well as other grants totalling 113.2 million US dollars.
“The balance of N37. 93 billion required for COVID-19 vaccines, salaries and other health-related expenditures totalling N41.6 billion and N48.2 billion recurrent component of defence and security will be funded by borrowing N135 billion from some special reserve levy accounts.
“We propose to fund the balance of N722.4 billion for capital expenditure on defence and security and capital supplementation from new borrowings in the absence of any supplementary revenue sources”, the letter read in parts.
He tasked the lawmakers to work hard to ensure the key legislations are passed within two weeks before they embark on their summer break from mid July.
He added:”I will be meeting with the adhoc committee on PIB, today by 3 pm to tidy up somethings. We need to pass these legislations before we go on summer break. Two weeks is a very short time. We must do it all. These are landmark legislations, including the supplementary budget”.
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