July 21, 2024

FEC Approves N2.1Tn As 2023 Supplementary Budget



By JP Ashedzi


On Monday, the Federal Executive Council (FEC) approved the sum of N2,176,791,286,033 as 2023 supplementary budget to address labour wage adjustments, security and more


The budject had been sent by President Bola Tinubu to the House of Representatives seeking the approval.


The President also sent the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper to the House of Representatives.


While speaking after the FEC meeting in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, said the budget is to fund urgent issues.


“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. ”

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