In order to address labour pay adjustments, security, and other issues, President Bola Tinubu has written the House of Representatives requesting approval of N2,176,791,286,033 as a supplemental budget for 2023.
The House of Representatives received the 2024–2026 Medium Term Expenditure Framework & Fiscal Strategy Paper from the President as well.
On Monday, the N2.1 trillion 2023 supplemental budget was approved by the Federal Executive Council (FEC).
The budget is intended to cover critical needs, according to Atiku Bagudu, Minister of Budget and Economic Planning, who made this statement following the FEC meeting in Abuja.
“The council considered a request for supplementary appropriation which is a second for 2023,” he said at the State House in Abuja.
“And graciously approved the sum of N2,176,791,286,033 as supplementary budget and this supplementary budget is to fund urgent issues including N605 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. ”