President Tinubu Set To Present Another N26.1Billion Supplementary Budget To National Assembly As FEC Gives Approval

By Ayodele Oni

For the second time in the five months of the present administration, President Bola Tinubu is set to present another supplementary budget of N2.1 trillion to the national assembly as the Federal Executive Council, (FEC) ratified the estimates.

At the end of Monday’s FEC meeting, Minister of Budget and Economic Planning, Atiku Bagudu, disclosed to journalists that out of proposed amount, N605 billion would be expended on national defence and security, while about N300 billion would be spent on maintenance of bridges.

Other highlights of the supplementary budget are N210 billion for the payment of wage award to civil servants and N400 billion for cash transfer to vulnerable households.

According to the minister, N100 billion provision was made in the budget proposals as infrastructure support for the Federal Capital Territory (FCT), and another N800 billion for the Independent National Electoral Commission (INEC) to conduct the off season governnorship elections in Bayelsa, Imo and Kogi states.

N8 billion was for the take-off of the newly created ministries such as Ministry of Marine and Blue Economy, according to Bagudu.

“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 N605 billion for national defense and security.

“This is to sustain the gains made in security and to accelerate 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 in order 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 and that amounts to about N210bn which has been approved and also N400bn as cash transfer payments.”