The Federal Executive Council (FEC) has endorsed the submission of a supplementary budget of over N2 trillion to the National Assembly.
The council granted the approval on Monday during its weekly meeting presided over by President Bola Tinubu.
This announcement was made by Senator Abubakar Bagudu, the Minister of Budget and Economic Planning, in a briefing with State House Correspondents following the FEC meeting in Abuja.
Recall that the FEC had earlier proposed a budget of N26 trillion for the year 2024, which is scheduled to be presented to the National Assembly by December 31.
In addition, Bagudu confirmed that the FEC had granted approval for a sum of N300 billion to be earmarked for the rehabilitation of Eko and Third Mainland bridges, as well as the development, repair, and maintenance of various roads throughout the nation in preparation for the upcoming rainy season.
Similarly, he said the council also approved N200 billion for the provision of seed, agricultural input, supplies and agricultural implements and infrastructure to support expansion of production.
The national assembly’s approval of the supplementary budget will increase the country’s total budget to almost N28 trillion.