On Monday, July 31, the House of Representatives re-enacted the 2024 Appropriation Amendment Bill after rescinding its earlier passage of three bills, which increased the 2024 budget to about N35 billion. An emergency session was summoned for Wednesday to address this issue.
Hon. Francis Waive, chairman of the House Committee on Rules and Business, moved a motion for the rescission, citing Order Nine, Rule 1 (6) of the Standing Orders of the House. He noted that legal issues identified by the Directorate of Legal Services required reconsideration of Clauses 13 and 14, the long title, and the Explanatory Memorandum of the Bill.
Hon. Babajimi Benson, Chairman of the House Committee on Defence, assured that the amendments would not affect the implementation of the budget, describing the changes as administrative corrections that do not alter the budget figures.
Additionally, the House passed an amendment to the Central Bank of Nigeria Act, increasing the CBN's total advances to the Federal Government from five percent to a maximum of ten percent.
