Lawmakers push for N200 Billion in 2023 Budget for Flooding

Nigeria’s House of Representatives on Monday mandated its Committee on Appropriation to provide N200 billion in the 2023 Budget year to tackle flooding.

The fund is to be put into the Ecological Project Office in the Presidency for flood preparedness, mitigation, response, recovery and relief packages.

About 27 of Nigeria’s 36 states are affected by this year’s floods which also claimed over six hundred lives and rendered millions homeless.

The lawmakers whio had resumed a day earlier than originally planned said the Monday sitting is to address the challenges posed by flooding and project the way forward.

Imo lawmaker, Henry Nwawuba and Ogun legislator, Ibrahim Isiaka came with a motion of urgent public importance on the need for an action plan to forestall further flooding.

They called for a N5 billion lifeline to save all states affected by the floods while a lasting solution is made available with N200 billion injected into the Ecological fund

In his welcome remarks, Speaker Femi Gbajabiamila charges his colleagues not to relent in their legislative work on the 2023 Appropriation Bill.

He says a date has now been put to the planned National summit on Tertiary Education Reform as the parliament’s intervention

Away from the Chamber, the House Committee on Aids, Loans and Debts Management hosted the Debt Management Office to a budget defence meeting.

The Director General, Patience Oniha speaks to the agency’d budget projection of N1.047 billion for 2023.

She says Nigeria’s debt service as at September 2022 was N4.04 billion, comprising N3.86 billion for domestic and N866.67 billion for external debt service, N286. 67 is for sinking fund while N1.02 is for interest on ways and means.

The 2023 budget has debt service of N6.55 billion with N3.29 for domestic and N1.81 billion for External debt.

In all, she says Nigeria should reduce borrowing and focus more on revenue generation