General

FEC Approves N2.18tr 2023 Supplementary Budget

The Minister of Budget and Economic Planning, Atiku Bagudu, revealed this to newsmen after the council meeting, which was presided over by President Bola Tinubu at the State House in Abuja.

Bagudu explained that out of the proposed amount, six hundred and five billion naira would be expended on national defence and security, while about three hundred billion naira would be earmarked for the maintenance of bridges.

The minister also disclosed that two hundred and ten billion naira would go for the payment of wage awards to civil servants and four hundred billion naira for cash transfers to vulnerable households.

He also announced that one hundred billion naira provision was made in the budget proposals as infrastructure support for the Federal Capital Territory, and another eight hundred billion naira for the Independent National Electoral Commission to conduct the off-season governorship elections in Bayelsa, Imo and Kogi states.

According to Bagudu, another provision of eight billion naira was included in the supplementary budget for the take-off of the newly created ministeries such as Ministry of Marine and Blue Economy.

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