News
Nigerian President Tinubu signs Billion dollar Budget Supplementary for security and infrastructure says State House
By Deandrea Hamilton
Editor
#Nigeria, November 9, 2023 – Sunny skies on the outside in Abuja on Wednesday, and sunny dispositions on the inside of parliament as the President signed a N2.176 trillion Supplementary Appropriation Act; that’s the equivalent of $2.6 billion USD and according to the government of Nigeria, the funds are meant to “strengthen Nigeria’s security architecture and address Nigeria’s critical infrastructure deficit, amongst other considerations.”
The signing at the State House was carried out with Senate President Godswill Akpabio; Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas; Secretary to the Government of the Federation, Sen. George Akume; Majority Leader of the Senate, Opeyemi Bamidele; the Chairmen of the Appropriation Committees in the Senate,
There came some detailing of what the money will support, speaking was Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, who said “the newly approved expenditure for defence and security consists of about thirty percent, 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 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.
In the report, it was explained that the president was mindful of being transparent and responsible with the huge endorsement, offering to the National Assembly and by extension, all Nigerians “that the executive arm of government would ensure the judicious use of the budgeted resources.”
Photo courtesy of State House