The Federal Government on Monday approved a 2.18 trillion naira supplementary budget for the 2023 fiscal year to cover additional spending in defence, works as well as welfare packages such as wage awards and conditional cash transfers agreed with the Organised Labour.
Unveiling the details to State House correspondents at the end of this week’s Federal Executive Council meeting at the Aso Villa, the Minister of Budget and Economic Planning, Abubakar Bagudu, said the budget is to “fund urgent issues including national defence and security.”
Bagudu said, six hundred and five billion naira for national defense and security is to sustain the gains made in security, adding that a sum of three hundred billion naira 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.
RoyalTimes gathered that the supplementary budget also includes eight billion naira for the take-off grant of new ministries, and two hundred billion naira for capital supplementation to deal with urgent requests made to the President from various parts of the country.
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