Tinubu seeks approval of N2.1trn supplementary budget from House of Reps

Tinubu seeks approval of N2.1trn supplementary budget from House of Reps

President Bola Tinubu has submitted a letter to the House of Representatives, seeking their approval for a supplementary budget of N2,176,791,286,033 for the year 2023.

This budget allocation aims to address various crucial areas, including labour wage adjustments, security, and more.

In addition to the supplementary budget request, the President has also sent the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper to the House of Representatives.

READ ALSO: FEC approves N2.2 trillion supplementary budget to address national concerns

The Federal Executive Council (FEC) has already given their approval for the 2023 supplementary budget, which amounts to N2.1 trillion.

Following the FEC meeting in Abuja on Monday, the Minister of Budget and Economic Planning, Atiku Bagudu, expressed that this budget is necessary to address pressing issues.

According to Bagudu, “The council considered a request for supplementary appropriation, which is the second for 2023. Graciously, we approved the sum of N2,176,791,286,033 as a supplementary budget. This supplementary budget is intended to address urgent matters, including allocating N605 billion for national defence and security. It aims to sustain the progress made in security and accelerate further improvements, as these are funds that the security agencies require before the year concludes.”