President Bola Tinubu has written to the House of Representatives seeking approval for a supplementary budget of N2.1 trillion for 2023.
The President said the supplementary budget is needed to address labour wage adjustments, security, and other pressing issues.
He also sent the 2024-2026 Medium Terms Expenditure Framework & Fiscal Strategy Paper to the House for consideration.
On Monday, the Federal Executive Council (FEC) approved the 2023 supplementary budget of N2.1 trillion.
While speaking after the FEC meeting in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, said the budget is to fund urgent issues.
“The council considered a request for supplementary appropriation which is a second for 2023,” he said at the State House in Abuja.
“And graciously approved the sum of N2,176,791,286,033 as supplementary budget and this supplementary budget is to fund urgent issues including N605 billion for national defence and security.
“This is to sustain the gains made in security and to accelerate and these are funds that are needed by the security agencies before the year runs out”, Bagudu said.
