Two months to the end of the year, the Federal Executive Council (FEC) has approved a N2.17 trillion supplementary budget for 2023 to fund urgent national issues
Atiku Bagudu, Minister of Budget and Economic Planning disclosed this on Monday after the weekly FEC meeting presided over by President Bola Tinubu, at the Presidential Villa, Abuja
He revealed that the N2.17 trillion supplementary budget will cater for urgent national issues, including N605 billion for security and national defence to sustain gains of security.
Others include ₦200 billion for the supply of agricultural production, N210 billion for wage awards recently approved for Nigerian workers covering the period from September to December, and N400 billion of the fund set aside for cash transfer to vulnerable and poor Nigerians for the period October and November.
He announced that ₦100 billion will go to the Federal Capital Territory, (FCT ), while ₦18 billion is set aside for the Independent National Electoral Commission ( INEC ), for the November 2023 governorship elections in Kogi, Imo and Bayelsa states.
The sum of N5.5b is set aside for student loans, while another N200b is for capital supplementation
Dave Umahi, the Minister of Work also announced that the Council granted approvals for the first phase of the proposed coastal road from Lagos to Calabar, Cross Rivers State.
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