An approved ₦2.1 trillion supplementary budget will cater to many national issues.
The Federal Executive Council (FEC) on Monday approved ₦2,176,791,286,033 supplementary budget to fund urgent national issues including ₦605 billion for national defence and security.
The Minister of Budget and Economic Planning, Abubakar Bagudu, made this known while briefing State House Correspondents at the end of FEC meeting in Abuja.
"The council considered a request for supplementary appropriation which is a second for 2023 and graciously approved the sum of ₦2,176,791,286,033, as supplementary budget and this supplementary budget is to fund urgent issues including ₦605 billion for national defence 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."
Bagudu also said that FEC approved ₦300 billion for the repair of Eko and Third Mainland bridges as well as construction, rehabilitation and maintenance of many roads nationwide before the return of the rainy season.
Similarly, he said council approved ₦200 billion for the provision of seed, agricultural input, supplies and agricultural implements and infrastructure to support expansion of production.
"Equally the sum of ₦210 billion is provided for the payment of wage awards. In negotiation with the Nigeria Labour Congress (NLC), the government agreed to pay ₦35,000 each to about 1.5 million employees of the federal government for September, October, November and December.
"And that amounts to about ₦210 billion which has been approved and also ₦400 billion as Cash Transfer payments."
He recalled that the federal government has secured $800 million loan from the World Bank to pay cash transfers of ₦25,000 to 15 million households. According to him, the $800 million dollars is for October and November.
"The President graciously approved that an additional month should be funded by the federal government and that is what this ₦100 billion is for.
"Equally, ₦100 billion has been provided for the Federal Capital Territory in order to support them in urgent and immediate capital expenditure works that can enhance the infrastructure in the city."
"Also, ₦18 billion was provided for the Independent National Electoral Commission to support them in the conducting the Bayelsa, Kogi and Imo states elections."
The minister stated that ₦5.5 billion was also provided for the funding of the takeover of the student loans board and ₦8 billion for the take-off grant of new ministries.
"Equally the sum of ₦200 billion was provided as capital supplementation to deal with urgent requests that have been made to President Bola Tinubu from various parts of the country."