The House of Representatives on Tuesday, approved President Muhammadu Buhari’s request for restructuring of N1 trillion additional Ways and Means advances for implementation of the 2022 Supplementary Appropriation Act passed by the National Assembly.
This followed the adoption of a report presented by the House Committees on Finance, Banking, and Currency, and Aids, Loans, and Debts Management at the plenary.
President Muhammadu Buhari had requested an approval of N23.7 trillion, but the House is seeking further engagement with the executive to allow for thorough and detailed work and submissions on the larger part of the advances which amounts to N22.72 trillion.
Like the Senate, the House said it will consider the N22.72 trillion after properly engaging the executive.
Thr Red Chamber had on December 28, stepped down the restructuring of the N22.7 trillion Ways and Means request until more documents were presented for further legislative action.
The Speaker of the House of Representatives, Femi Gbajamialia, in his remark at the plenary, said the House would deliberate on the president’s request for the restructuring of the loan advances when the lawmakers returned from their recess at the end of February.