Breakdown of the N2.2tn supplementary budget approved by the FG

Breakdown of the N2.2tn supplementary budget approved by the FG 
“N605bn will be for national defense and security…

N300bn also earmarked to repair bridges including Eko and Third Mainland bridges as well as construction, rehabilitation and maintenance of many roads nationwide before the return of the rainy season. 

N210bn was earmarked for the payment of wage Awards.

N400bn as cash transfer payments. You may recall that the federal government secured $800m loan from the World Bank to pay cash transfers of N25,000 to 15 million households. The $800 million is for two months, October and November. 

The Council also approved N200bn for seed, agricultural input, supplies and agricultural implements and infrastructure in order to support expansion of production.

N100bn was okayed for the Federal Capital Territory for urgent and immediate capital expenditure infrastructure works.

N18bn was provided for the Independent National Electoral Commission for the conduct in the Bayelsa, Kogi and Imo elections; 

N5.5bn for the funding of the take-off the student loans board which begins loan disbursement in January 2024.

The supplementary budget also includes N8bn for the take-off grant of new ministries, N200bn for capital supplementation to deal with urgent requests made to the President from various parts of the country.

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