FEC approves N2.1trn supplementary budget for 2023
Tamarauemi Ebimini
The Federal Executive Council (FEC), on Monday, approved the sum of N2.1 trillion as supplementary budget for the year 2023.
Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this while briefing State House Correspondents at the end of the meeting of the council in Abuja.
President Bola Tinubu presided over the meeting.
According to Mr Bagudu, the main items in the supplementary budget are issues of security and the payment of wages to workers in the public sector.
Mr Bagudu said the component of the wage award for the year 2024 was captured in the budget.
He also said N400 billion was provided for in the auxiliary budget for cash transfer payment.
The minister said the sum of N100 billion was provided in the budget to support the Federal Capital Territory (FCT) to enable it to execute urgent capital works.
Mr Bagudu stated that N5.5 billion was approved for the take-off of the Students Loan Board while another N8 billion was set aside for the take-off of the newly established ministries.
He added that N18 billion was allocated to the Independent National Electoral Commission (INEC) to organise the 11 November off-cycle governorship elections in Kogi, Bayelsa and Imo states.
The minister said the executive will forward the budget to the National Assembly for approval without delay. This, according to him, is with a view to addressing the urgent needs of the government, especially the payment of wages.
