By Cross Udo, Abuja
The Federal Executive Council (FEC) yesterday approved N2.1trn Supplementary Budget for 2023, the second this year.
The Minister of Budget and Economic Planning, Alhaji Atiku Bagudu, disclosed this while briefing State House correspondents after the Council meeting, presided over by President Bola Tinubu at the Council Chamber, Presidential Villa, Abuja.
He explained that out of the proposed amount, N605bn would be spent on national defence and security, while about N300bn would be spent on the maintenance of bridges.
Bagudu also disclosed that N210bn would go for the payment of wage awards to civil servants and N400bn for cash transfers to vulnerable households.
READ ALSO:Rivers: Fire, fury as Assembly complex burnt over alleged impeachment plan against Governor
The Minister announced that N100bn provision was made in the budget proposals as infrastructure support for the Federal Capital Territory (FCT), and another N18bn for the Independent National Electoral Commission (INEC) to conduct the off-season governorship elections in Bayelsa, Imo, and Kogi states.
Another provision of N8bn was included in the supplementary budget for the take-off of the newly created ministries such as the Ministry of Marine and Blue Economy, according to Bagudu.
According to him, “The council considered a request for supplementary appropriation which is a second for 2023, and guide graciously approve the sum of N2,176,791,286,033 as supplementary budget and this supplementary budget is to fund urgent issues including N605bn for national defense and security.
“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. Equally, a sum of N300bn was provided to repair bridges including Eko and Third Mainland bridges as well as construction, rehabilitation, and maintenance of many roads nationwide before the return of the rainy season.
“Equally the sum of N200bn was provisioned for seed, agricultural input, supplies, and agricultural implements and infrastructure to support expansion of production.
“Equally the sum of N210bn 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, and that amounts from September, October, November, and December 2023 amounts to about N210bn which has been approved, and also N400bn as cash transfer payments.
“You may recall that the Federal Government secured a $800m loan from the World Bank to pay cash transfers of N25,000 to 15 million households. The $800m is for two months, October and November.
“The President graciously approved that an additional month should be funded by the Federal Government and that is what this N100bn is for.
“Equally, N100bn has been provided for the Federal Capital Territory to support them in urgent and immediate capital expenditure works that can enhance the infrastructure in the city.
“Equally N18bn was provided for the Independent National Electoral Commission to support them in the conduct of the Bayelsa, Kogi, and Imo elections. Yes, some N5.5bn was provided for the funding of the takeoff of the student loans board as well as N8bn for the take-off grant of new ministries.
“Equally a sum of N200bn was provided as capital supplementation to deal with urgent requests that have been made to Mr President from various parts of the country.’
