President Bola Tinubu has presented the 2023 Supplementary Budget of N2.1 trillion to the National Assembly.
The request was contained in a letter to the Senate President, Godswill Akpabio, at plenary on Tuesday.
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.
Atiku Bagudu, the Minister of Budget and Economic Planning, told newsmen after the council meeting, which was presided over by President Tinubu at the State House, Abuja.
Bagudu explained that out of the proposed amount, N605 billion would be expended on national defence and security, while about N300 billion would be earmarked for the maintenance of bridges.
The minister also dsaid that N210 billion would go for the payment of wage awards to civil servants and N400 billion for cash transfers to vulnerable households.
He also announced that N100 billion provision was made in the budget proposals as infrastructure support for the Federal Capital Territory (FCT), and another N800 billion for the Independent National Electoral Commission (INEC) to conduct the off-season governnorship elections in Bayelsa, Imo, and Kogi states.
Another provision of N8 billion was included in the supplementary budget for the take-off of the newly created ministeries such as Ministry of Marine and Blue Economy, according to Bagudu.
“The council considered a request for supplementary appropriation which is a second for 2023, and guide 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 defense and security,” Bagudu said.
“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. Equally as sum of N300 billion was 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”.
STATE HOUSE BUDGET
The federal government plans to spend N28 billion on the needs of the State House. A breakdown of the figure showed that the federal government earmarked N2,900,000,000 for the purchase of SUV vehicles.
The sum of N2,900,000,000 will also be spent on the replacement of “operational pool vehicles”. The renovation of residential quarters for the president, and Aguda house will gulp N4,000,000,000; and N2,500,000,000, respectively.
Others include:
- Computerisation and digtalisation of the State House N200,000,000
- Construction of office complex within State House N4,000,000.000
- Renovation of Dodan barracks — official residence of Mr. president N4,000,000,000
- Renovation of official quarters of vice-president in Lagos, N3,000,000,000
- Acquisition, renovation and rehabilitation of 2Nos. EFCC forfeited quarters as State House at Mabushi, N1,500,000.000.
- Acquisition, renovation and rehabilitation of 2nos. EFCC forfeited quarters as State House at Guzape, N1,500,000,000.
- Purchase of official vehicles for the office of the first lady, N1,500,000.000.
