The Federal Executive Council (FEC) has approved N2.1 trillion Supplementary Budget for the year 2023, the second this year.
The Minister of Budget and Economic Planning, Alhaji Atiku Bagudu, addressed reporters yesterday after the week’s Council meeting, presided over by President Bola Tinubu at the State House, Abuja.
Bagudu explained that of proposed amount, N605 billion would be spent on national defence and security, while about N300 billion would be spent on maintenance of bridges. He added that N210 billion would go for the payment of wage award to civil servants, and N400 billion for cash transfer to vulnerable households.
The minister also said N100 billion was provided 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 governorship elections in Bayelsa, Imo and Kogi states.
Another N8 billion was included for the take-off of the newly created ministries, such as Ministry of Marine and Blue Economy, according to Bagudu.
He added: “The council considered a request for supplementary appropriation which is a second for 2023, and graciously approved N2,176,791,286,033 as supplementary budget to fund urgent issues, including N605 billion for national defence and security.
“Equally, N200 billion was provisioned for seed, agricultural input, supplies and agricultural implements and infrastructure to support expansion of production…”
Meanwhile, a ministerial retreat for members of the FEC is scheduled to hold from Wednesday to Friday this week.
The Council also approved N5.9 billion for the construction of access roads for the Abuja light rail system.
Minister of the Federal Capital Territory (FCT), Nyesom Wike, said the President has set a timeline for the completion of the Abuja light rail project, emphasising the importance of addressing the roads that connect to the railway.