Reps Scrap Presidential Yatch, Increases Student Loan to 10bn

By Linda Ike

The House of Representatives on Thursday scrapped the budgetary allocation of the presidential yatch, moving the proposed sum to student loan to increase the allocation from 5.5bn to 10bn.

Chairman, House Committee on Appropriation, Abubakar Bichi who disclosed this while addressing newsmen after plenary said the need became necessary following low budgetary allocation for students .

The Committee also increased budgetary allocation of ministry of Defence from 476bn to 546bn following security concerns.

Bichi also said that the minimum wage for workers was considered and approved for onward transmission to the executive while promising proper legislative oversight to ensure hundred percent implementation

The sum of 100bn was retained for FCT as requested by the minister, Nyesom Wike

To this end the House passed the sum of 2.177 trillion .

Recalled that the 2023 Supplementary Appropriation bill of about N2,176 trillion on Wednesday passed second reading in the House of Representatives.

The Speaker of the House of Representatives, Tajudeen Abbas who read the letter sent by President Bola Tinubu said the supplementary budget is aimed at addressing labour wage adjustments, security and other matters.