The House of Representative on Sunday passed a bill extending the implementation of the capital aspect of the 2023 N819 billion supplementary budget from June 30 to Dec. 31.
The bill which sought to approve N819 billion for capital expenditure was considered at the Committee of Supply, thereby raising the budget deficit for 2022 to N8.17 trillion and deficit GDP ratio to 4.43 per cent.
The bill is expected to be transmitted to President Muhammadu Buhari for assent before the expiration of his tenure which end at midnight.
A bill for an Act to Repeal the Produce and Enforcement of Export Standards Act, 2004, and Enact the Federal Produce Inspection Service Enforcement of Export Standards was also considered.
The bill was to provide for the Inspection and enforcement of grades and quality standards of produce and commodities intended for export from Nigeria at ports of shipment.
