A supplemental budget of N2,176,791,286,033 was agreed by the Federal Executive Council (FEC) on Monday to address pressing national challenges, such as the allocation of N605 billion for national security and defence.
Sen. Abubakar Bagudu, the Minister of Budget and Economic Planning, disclosed this to State House Correspondents following the FEC meeting in Abuja.
” The Council considered a request for supplementary appropriation which is a second for 2023, and graciously approved the sum of N2,176,791,286,033, as supplementary budget and this supplementary budget is to fund urgent issues including N605 billion for national defence and security.
Budget For 2023 Unlawful, Claims Sowore
” This is to sustain the gains made in security and to accelerate and these are funds that are needed by the security agencies before the year runs out. ”
Additionally, Bagudu stated that the FEC had allocated N300 billion for the building, renovation, and upkeep of numerous roads around the country prior to the start of the rainy season, as well as the repair of the Third Mainland and Eko bridges.
In a same vein, he stated that the Council has allocated N200 billion for the provision of infrastructure, supplies, agricultural inputs, seeds, and tools to enable output growth.
” Equally the sum of N210 billion is provided for the payment of wage Awards. In negotiation with the Nigeria Labour Congress.
” The Federal Government agreed to pay N35,000 each to about 1.5 million employees of the Federal Government for September, October, November and December.
I Will Increase Education Budget By 50% In Next Two Years – Buhari Promises
” And that amounts to about N210 billion which has been approved and also N400 billion as Cash Transfer payments.”
He recalled that the World Bank had granted the Federal Government a loan of 800 million dollars to cover cash transfers of N25,000 to 15 million households.
The eight hundred million dollars, he claims, are for October and November.
” The President graciously approved that an additional month should be funded by the Federal Government and that is what this N100 billion is for.
” Equally, N100 billion has been provided for the Federal Capital Territory in order to support them in urgent and immediate capital expenditure works that can enhance the infrastructure in the city. ”
Buhari Intends To Present 2023 Budget Bill In September
” Also, N18 billion was provided for the Independent National Electoral Commission to support them in the conducting the Bayelsa, Kogi and Imo states elections.”
According to the minister, N8 billion was given for the take-off grant of new ministries, and N5.5 billion was allocated for the support of the Student Loans Board.
” Equally the sum of N200 billion was provided as capital supplementation to deal with urgent requests that have been made to President Bola Tinubu from various parts of the country.”
Follow us on Facebook
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.