President Bola Tinubu has written to the House of Representatives, seeking the approval of the sum of N2.1 trillion as the 2023 supplementary budget.
According to Channels Television, the President also sent the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper to the House of Representatives for approval.
On Monday, the Federal Executive Council (FEC) approved the 2023 supplementary budget of N2.1 trillion to address labour wage adjustments, security and more.
While speaking after the FEC meeting in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, said the budget is to fund the urgent issues listed above.
He added that N605 billion out of the money will be used for national defence and security to sustain the gains made in security and to accelerate, and these are funds that the security agencies need before the year runs out.
Bagudu stated that there will be allocations to maintain previous progress on agriculture, adding that the budget will also cover four months of wage awards for Federal Government workers and student loan funds.
The minister said out of the amount for the supplementary budget, the Federal Government approved N18 billion for the Independent National Electoral Commission (INEC) for the conduct of the Bayelsa, Imo, and Kogi State off-cycle elections next month.