President, Bola Ahmed Tinubu has signed the N2.17 trillion 2023 Supplementary Budget to strengthen the country’s security architecture and address critical infrastructure deficit, amongst other considerations.
President Tinubu commended the National Assembly for its expeditious consideration and approval, assuring Nigerians that the executive arm of government would ensure the judicious use of the budgeted resources.
Providing a breakdown of the supplementary budget, the Minister of Budget and Economic Planning, Abubakar Bagudu, said the newly approved expenditure for defence and security consists of about Representatives, while thirty-five percent is dedicated to the provision of critical infrastructure to be allocated to the Federal Ministries of Works, the Federal Capital Territory and the Ministry of Housing & Urban Development.
The Minister further explained that thirty-two percent of the supplementary budget was allocated to the new Wage Award for treasury-paid federal workers to cushion the effect of the removal of fuel subsidy, in addition to cash transfers to vulnerable persons, and support to the Independent National Electoral Commission (INEC), amongst other considerations.
Others standing with the President at the brief signing ceremony, which was held in his office, included the Secretary to the Government of the Federation (SGF), George Akume; Minister of Budget and Economic Planning, Atiku Bagudu; and Chairman of the Federal Inland Revenue Services (FIRS), Zacch Adedeji.
Others at the signing were Senate Leader, Sen Opeyemi Bamidele; and the Chairman, Senate Committee on Finance, Olamilakan Adeola.