FX RATES
FX RATES

Supplementary Budget: FEC approves draft budget of N895 billion

The Finance Minister, Zainab Ahmed, disclosed that the Federal Executive Council has approved the 2021 supplementary budget draft of N895 billion.

The Minister disclosed this on Wednesday evening in a press briefing with newsmen after the FEC meeting, adding that the supplementary budget would be used on insecurity, covid-19 vaccines, salaries and other health-related expenditure as well as the recurrent component of the defense and security expenditures.

“Today the Federal Ministry of Finance, Budget and National Planning presented to council a proposal to seek approval for the draft Federal Government of Nigeria 2021 supplementary budget,” she said, citing that a bill would be presented to the  National Assembly for approval.

“The council on that note approved the 2021 supplementary appropriation bill, in an aggregate expenditure of N895,842,462,917,” she added.

Expenditures, she added, are N83.56 billion for Johnson and Johnson vaccines, N1.69 billion for the Nigerian Comprehensive AIDS programme, N40 billion under the public service-wide wage adjustments to take care of the needs for allowances to the health and education sector, and N770.60 billion for defence spending.

FEATURED PRODUCTS