FG Approves N2.1trn Second Supplementary Budget For 2023

The Federal Executive Council (FEC) has approved the sum of N2,176,791,286,033 for the second 2023 supplementary appropriation.

The Minister of Budget and Economic Planning, Atiku Bagidu, announced this on Monday while briefing State House reporters after the federal cabinet meeting presided over by President Bola Ahmed Tinubu at the Council Chambers of the Presidential Villa, Abuja.

He said the draft supplementary budget to be sent to National Assembly for approval would be used to finance urgent issues including N605billion for national defense and security.

According to him, “This is to sustain the gains made in security and these are funds that are needed by the security agencies before the year runs out.”

Bagudu said the sum of N300billion was also 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.

He added that the sum of N200billion was provisioned for seed, agricultural input, supplies, agricultural implements and infrastructure in order to support expansion of production.

The minister said the sum of N210billion was equally provided for the payment of six months’ provisional wage award as agreed during the negotiation with the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC).

He recalled that the Federal Government agreed to pay N35,000 each to about 1.5million employees of the Federal Government.

According to him, the payment would cover September, October, November and December 2023.

Bagudu said N400billion was also approved as cash transfer payments.

“You may recall that the Federal Government secured $800million loan from the World Bank to pay cash transfers of N25,000 to 15 million households. The $800million is for two months, October and November. The President graciously approved that an additional month should be funded by the Federal Government and that is what this N100billion is for,” he added.

The minister said N100billion had also been provided for the Federal Capital Territory (FCT) in order to support urgent and immediate capital expenditure works that could enhance the infrastructure in the city.

Comments

€56.250m Contract Award Allegation, Malicious, False, NDDC Clarifies

By Editor The management of the Niger Delta Development Commission (NDDC) has dissociated itself from a fake contract award letter being circulated online purporting to originate from the desk of the managing director of the commission. The commission stated that the fake letter which purportedly notified an Italian company of an award of a contract for the sum of €56,250,000 did not emanate from the commission. According to a statement from the office of the Director, Corporate Affairs, NDDC, Dr Ibitoye Abosede, the commission stressed that it is not in the know of such contract and that the public should disregard such malicious falsehood. The commission unequivocally stated that the document was fake, adding that the purported contract was also a scam. “It does not exist either in the records of the commission nor is any of our officials aware of it,” the commission said. The interventionist commission, having studied the purported document, stated that the contract awards in N...

2023: Nigeria Ranks Low, As IMF Names Countries With Highest Debt

The 2023 World Economic Outlook of the International Monetary Fund (IMF), has named the countries with highest debt – Sudan 256 per cent, Japan 255 percent, and Greece 168 percent. According to the October index posted by Statisence X handle, while Nigeria has 39 percent, and China 83 percent, the U. S. has 123 percent and United Kingdom 104 percent. The above data shows that Argentina tops the list of 12 highest IMF debt burden with $44,433,379; followed by Egypt at $12, 521, 322,333; Ukraine $11,588,182,405; and China $9, 674,159, 560. Also on the list are, Pakistan $7,969,383, 344; Russia $7, 850, 147, 849; India $5,606,170, 345; Brazil $3, 995, 905, 562; Mexico $3,946, 241,133; Venezuela $3,534, 993, 686; Indonesia $2, 741, 057, 642; and South Africa $2,471, 131, 618. However, as of March 2023, Argentina led 10 countries with the highest debt burden, hitting $46billion; Egypt $18billion; Ukraine $12.2billion; Ecuador $8.2billion; Pakistan $7.4billion; Colombia $5billion; Angola $4....

2023 Census: We Won’t Ask Questions On Religion –NPC

2023 Census: We Won’t Ask Questions On Religion –NPC By Editor Ahead of the commencement of the 2023 census, the National Population Commission (NPC) on Wednesday said it will not ask questions on religious affiliation. In a statement on Wednesday by the Director of Public Affairs, Isiaka Yahaya, the commission said the decision to exclude religion along with ethnicity from the census questionnaire was taken in consideration of the sensitive nature of these issues within the Nigerian polity. He also stated that the need to save the census data from needless controversies and attention will compel the NPC to avoid questions bordering on religion. “For the avoidance of doubt, the commission wishes to state unequivocally that the 2023 Population and Housing Census will not canvass questions on religion and religious affiliations of respondents.” This comes amid a viral WhatsApp audio claiming that the religious affiliation of a person will be canvassed. The exercise is schedule...

Nelly's SmartBriefs

Search This Blog