The Senate on Tuesday passed the sum of N6.2 trillion as contained in the 2024 Appropriation Act Amendment Bill.
The bill was passed following the presentation of a report by the Chairman, Committee of Appropriations, Senator Adeola Olamilekan.
He said the Amendment for capital and recurrent expenditures made provisions for key infrastructure projects omitted in the 2024 Appropriation Act and the recently approved National Minimum wage.
Upon consideration of all 13 clauses, by the Committee on Supply, the Senate passed the bill for third reading.
Similarly, the Upper Legislative Chamber also passed a bill seeking to impose a one-time windfall tax on banks for Foreign Exchange (forex) gains.
The Bill was passed by the Upper Legislative Chamber after Senator Sani Musa, Chairman of the Finance Committee, presented a report.
While presenting his report, Senator Musa said windfall tax is not meant to be paid by banks to their shareholders as dividends. He added that any bank that withholds its tax would be liable to pay 10 percent in addition to what they ought to have paid.
