fbpx
Connect with us

News

BREAKING: FG Okays N2.1 Trillion Supplementary Budget

The supplementary budget aims to address various pressing issues, with allocations including;

Published

on

TinubuJetsVerseNews1
President Bola Ahmed Tinubu

The Federal Government of Nigeria has approved a supplementary budget of N2.1 trillion.

VerseNews reports that the announcement was made by the Minister of Budget and Economic Planning, Atiku Bagudu, following a Federal Executive Council meeting presided over by President Bola Tinubu.

The supplementary budget aims to address various pressing issues, with allocations including;

Advertisement
  • N605 billion for defense and security, N300 billion for bridge repairs and construction
  • N200 billion as a seed fund for agriculture, N210 billion for wage awards from September to December 2023
  • N400 billion for cash transfer payments
  • N100 billion to support the Federal Capital Territory (FCT) capital projects
  • N18 billion for the Independent National Electoral Commission (INEC) for elections in Bayelsa and Imo states
  • N5.5 billion for student loans
  • N800 billion for the establishment of a new ministry

Additionally, the domestic borrowing ceiling was increased, and the government is maintaining the January to December budget cycle.

Wage awards to labor for the next six months will remain unchanged, with any necessary adjustments to be included in the supplementary budget.

WhatsAppCOnnect

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

wedding party wedding party
Celebrity Gist19 mins ago

Cubana Chief Priest’s Cashless Wedding Party Sparks Mixed Reactions Post-EFCC Release (Video)

A video showing Cubana Chief Priest attending a wedding party post-release from EFCC custody, where he refrains from cash spraying...

State Of Origin Certificate State Of Origin Certificate
News45 mins ago

Immigration Makes State Of Origin Certificate Compulsory For Passport Renewal, Application

A state of origin certificate is an official document that confirms an individual's state of origin within a country, often...

Emmanuel Amunike Emmanuel Amunike
Sports1 hour ago

Nigeria Football Federation Appoints Emmanuel Amunike As New Super Eagles Head Coach

Emmanuel Amunike, a former Super Eagles star, has been appointed as the new head coach of the Nigerian national football...

yahaya bello yahaya bello
Politics2 hours ago

BREAKING: Yahaya Bello Flees Nigeria To Reunite With Wife, Multi-Million Dollar Investments

Yahaya Bello reportedly leaves Nigeria to join his wife and manage multi-million dollar investments in a North African country.

Ondo Governorship Primary Ondo Governorship Primary
Politics4 hours ago

BREAKING: APC Declares Ondo Governorship Primary Election Inconclusive

The APC declared Ondo governorship primary inconclusive due to logistical challenges, prompting a rerun in Okitipupa LGA.

Fresh Demands Fresh Demands
News5 hours ago

Labour Issues Seven Fresh Demands To Tinubu’s Government

Labour presents a fresh demands to the government led by Bola Tinubu, totaling seven requests.

Cubana Chief Priest Advises Yahaya Bello Cubana Chief Priest Advises Yahaya Bello
Celebrity Gist2 days ago

‘No Need To Run’, Cubana Chief Priest Advises Yahaya Bello

Cubana Chief Priest advises Yahaya Bello to cooperate with the EFCC if summoned, sharing his own experience of being arraigned...

Nigeria Correctional Service Nigeria Correctional Service
Entertainment2 days ago

Nigeria Correctional Service Clarifies Bobrisky’s Relocation From Ikoyi Prison To Kirikiri

The Nigeria Correctional Service clarified that Bobrisky remains at Ikoyi Prison, denying rumors of his relocation to Kirikiri Prison.

engagement farming engagement farming
Tech2 days ago

Elon Musk Cracks Down On Engagement Farming On X, Threatens Suspension

Elon Musk has warned against engagement farming on the platform, threatening to suspend accounts that practice it.

NAFDAC Raids Sahad Stores NAFDAC Raids Sahad Stores
News2 days ago

NAFDAC Raids Sahad Stores And H-Medix In Abuja, Confiscates N50m Worth Fake Cosmetics, Drugs

NAFDAC Raids Sahad Stores in Abuja, seizing counterfeit cosmetics and drugs in a series of operations across various locations.

Advertisement