Skip to main content

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

Post a Comment

Popular posts from this blog

Tinubu Departs Abuja For Japan, Brazil •To Stopover In Dubai, Hold Strategic Talks In Tokyo, Brasília

President Bola Ahmed Tinubu on Friday departed Abuja for a two-nation official visit to Japan and Brazil, making a brief stop in Dubai, United Arab Emirates. His aircraft took off from the Nnamdi Azikiwe International Airport, Abuja, around 11:15 am, with top government officials — including Chief of Staff, Hon Femi Gbajabiamila; National Security Adviser, Mallam Nuhu Ribadu; and Minister of Finance, Wale Edun — on hand to see him off. In a statement, Presidential spokesperson, Bayo Onanuga revealed that the President’s first stop will be in Yokohama, Japan, where he will participate in the Ninth Tokyo International Conference on African Development (TICAD9) from August 20 to 22. The summit, themed: “Co-create Innovative Solutions with Africa,” aims to accelerate Africa’s economic transformation through private investment, innovation, and stronger institutions. While in Japan, President Tinubu is expected to attend plenary sessions, engage in bilateral talks with world leaders, and mee...
Post a Comment
Read more

We're Ready To Tackle Poverty Through Renewed Hope Ward Dev Programme -President Tinubu

Being an address by President Bola Tinubu, at the FEC meeting on August 13,  2025 1. Distinguished members of the Federal Executive Council, let me begin by expressing my sincere appreciation for your unwavering commitment, resilience, and hard work in supporting this administration’s reform agenda. 2. Together, we have implemented bold and difficult reforms that have dismantled longstanding distortions in our economy and restored policy credibility. 3. These reforms have: Enhanced our economic resilience. Restored macroeconomic stability. Created a transparent and competitive business environment, and Bolstered investor confidence. 4. As a result, our economy is now better positioned to attract both domestic and foreign private investment, which is critical to stimulating sustained growth, creating decent jobs, and lifting millions of Nigerians out of poverty. Renewed Hope Agenda: A $1trillion Economy by 2030 5. Our Renewed Hope Agenda remains focused on achieving a $1trillion eco...
Post a Comment
Read more

FG RESTATES COMMITMENT TO EARLY COMPLETION OF ENUGU–PH EXPRESSWAY

The Federal Government has reaffirmed its commitment to the timely completion of the Section Three of the 61-kilometer Enugu–Port Harcourt Expressway in Enugu State. This was contained in a statement signed by the Special Assistant (Media) to the Minister of Information and National Orientation, Rabiu Ibrahim, on Thursday, August 14, 2025. The Minister of Information and National Orientation, Mohammed Idris, who led a strong Federal Government delegation to the site of the road project as part of a wider Citizens’ Engagement Tour of the South-East region, said that modern road infrastructure is vital to economic growth, improved safety, and citizens’ welfare.  “This project is a visible testament to government’s resolve to complete strategic highways nationwide for the benefit of Nigerians,” Idris said.  Under construction by the CGC Nigeria Limited, the 61-kilometre dual carriageway (122 km in total) is valued at ₦100.8billion.  The Enugu-bound section has been completed...
Post a Comment
Read more