Tinubu signs N2.17trillion supplementary budget into law

President Bola Tinubu on Wednesday signed a supplementary budget of N2.17 trillion into law. According to Abubakar Bagudu, the Minister of Budget and Economic Planning, the newly approved expenditure for defence and security takes 30 per cent. He explained that 35 per cent of the budget is for provision of critical infrastructure by Federal Ministries of Works, the Federal Capital Territory, and Housing & Urban Development.

The minister further said that thirty-two per cent 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.

President Tinubu commended the National Assembly for its expeditious consideration and approval, assuring Nigerians that the executive arm of government would ensure the judicious use of the budgeted resources.