President Bola Tinubu has written to the House of Representatives, requesting the approval of a N2,176,791,286,033 supplementary budget for 2023 to address various needs, including labor wage adjustments and security.
During the Federal Executive Council (FEC) meeting held in Abuja, the 2023 supplementary budget of N2.1 trillion was approved by the council. Atiku Bagudu, the Minister of Budget and Economic Planning, explained to State House correspondents that the budget will be used to address urgent issues that require funding.
“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.”
The President also sent the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper to the House of Representatives for consideration and approval.