Nigerian govt proposes N2.2trn as 2023 supplementary budget

The Federal Executive Council (FEC) on Monday approved N2.2 trillion as a 2023 supplementary budget to fund urgent national issues.

The Minister of Budget and Economic Planning, Abubakar Bagudu, disclosed this to State House Correspondents at the end of the council’s meeting presided over by President Bola Tinubu in Abuja.

He said: “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.

READ ALSO: CBN loans to gulp N1.2trn of 2023 budget

“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.”

Bagudu said the council also approved N300 billion for the repair of the Eko and Third Mainland bridges as well as construction, rehabilitation, and maintenance of many roads nationwide before the return of the rainy season.

The minister said: “The council approved N200 billion for the provision of seed, agricultural input, supplies, and agricultural implements and infrastructure to support the expansion of production.

“Equally the sum of N210 billion was 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.

“This amounts to about N210 billion which has been approved and also N400 billion as Cash Transfer payments.”

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now