The minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to State House correspondents, yesterday, after the Federal Executive Council (FEC)
Bagudu explained that, “The council considered a request for supplementary appropriation which is a second for 2023 and graciously approve the sum of N2,176,791,286,033 as supplementary budget and this supplementary budget is to fund urgent issues.”
He added that a further N210 billion was provided for wage awards in ongoing negotiations, covering the period from September to December 2023.He said, “Equally the sum of N210 billion is provided for the payment of wage awards. In negotiation with the Nigeria Labour Congress, the federal government agreed to pay N35,000 each to about 1.5 million employees of the federal government from September, October, November and December 2023.
“The $800 million is for two months, October and November. The President graciously approved that an additional month should be funded by the federal government and that is what this N100bn is for,” he added. He said an additional N5.5 billion was designated for funding the launch of student loans, and N800 billion was allocated for the establishment of new ministries.
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