President Bola Tinubu has presented the 2023 Supplementary Budget of N2.1 trillion to the National Assembly with N800 billion earmarked for the Independent National Electoral Commission (INEC) to conduct the off-season governorship elections in Bayelsa, Imo and Kogi states.
The unprecedented budget sum was announced when the council approved the 2024-2025 medium-term expenditure framework (MTEF) and fiscal strategy papers (FSP) at the FEC meeting held on October 23 in Abuja.
The national assembly’s approval of the supplementary budget will increase the country’s total budget to N28.17 trillion.
According to the budget, FG intends to spend N1.5 billion on the purchase of official vehicles for the office of the first lady.
Likewise, N4 billion will be spent on Renovation of Dodan barracks — official residence of Mr. president and another N3 billion on Renovation of official quarters of vice-president in Lagos.