President Bola Ahmed Tinubu has formally written to the House of Representatives, requesting approval for a N2.1 trillion supplementary budget.
This development comes shortly after the Federal Executive Council’s unanimous approval on Monday for the allocation of the said budget, aimed at addressing critical concerns such as labour wage adjustments, national security, infrastructure maintenance, and more.
The supplementary budget also aligns with the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper, which President Tinubu has submitted to the House of Representatives.
During the Federal Executive Council meeting, the Minister of Budget and Economic Planning, Atiku Bagudu, emphasized the urgency of addressing these issues.
Notable allocations within the supplementary budget include N210 billion for Wage Award for Civil Servants, N605 billion for National Security and Defence, N300 billion for the maintenance of vital infrastructure like the Eko bridge, N400 billion for cash transfers to vulnerable households, N200 billion for seed and agricultural inputs, and N18 billion for the Independent National Electoral Commission to conduct off-season elections.
