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Nigerian govt approves N895bn 2021 supplementary budget

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Finance Minister allays fear over gov borrowings, says N25.7tr debt not worrisome

The Federal Executive Council (FEC) on Wednesday approved the draft 2021 supplementary budget of N895 billion.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this to State House correspondents at the end of the FEC meeting presided by President Muhammadu Buhari, at the Presidential Villa, Abuja.

Ahmed said a bill on the supplementary budget would be sent to the National Assembly for approval in line with constitutional provisions.

She said: “Today the Federal Ministry of Finance, Budget and National Planning presented to council a proposal to seek approval for the draft Federal Government of Nigeria 2021 supplementary budget.

“The approval was based on the need for funding to ensure that Nigeria meets its commitment under the Nigerian Comprehensive AIDS programme.

“It was also based on the urgent need to specifically enhance the capacity of the military and para-military agencies to tackle the various security challenges in the country.

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“The council approved the 2021 supplementary appropriation bill for an aggregate expenditure of N895, 842,462,917.

“The total of this expenditure is made up of N83.56 billion for COVID-19 vaccine programme, covering 30 billion vaccines from Johnson and Johnson vaccines and the logistics cost related to the deployment of the vaccine.

“It also contains the sum of N1.69 billion for the Nigerian Comprehensive AIDS programme currently operating in the states and an additional contingency provision of N40 billion under the public service-wide wage adjustments to take care of the needs for allowances to the health and education sectors and other wage-related issues.

“This is an incremental provision to the N100 billion already provided for in 2021 budget.

“The council also approved an aggregate sum of N770.60 billion to further enhance the capacity of the defence and security agencies to address current and emerging security challenges in our country.”

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