President Bola Tinubu has presented a supplementary budget proposal for the year 2023, totalling N2.176 trillion to the House of Representatives.
The proposed budget outlines allocations to various ministries and agencies.
The Ministry of Defence received the highest allocation of N476.543 billion, followed by Works with N300 billion and the Ministry of Agriculture and Food Security with N200 billion.
Within the State House section of the budget, various allocations were made for different purposes, including the purchase of SUV vehicles (N2.9 billion), official vehicles for the office of the First Lady (N1.5 billion), renovation of the residential quarters of the President (N4 billion), renovation of Dodan Barracks (N4 billion), renovation of the official quarters of the Vice President in Lagos (N3 billion), and the construction of an office complex in Aso Rock (N4 billion).
The Presidential Air Fleet received a budget allocation of N12.7 billion in the Office of the National Security Adviser section.
The Nigerian Navy was allocated N5 billion for a Presidential Yacht.
Additionally, the supplementary budget allocated N5 billion for the renovation of 100 schools and N5.5 billion for the Education Loan Fund, specifically for funding student loans.
Housing and the Federal Capital Territory Administration each received N100 billion, while the Department of State Services (DSS) and Police Formations and Command received N49 billion and N50 billion, respectively.
Service-wide Votes were allocated N615 billion in the supplementary appropriation bill.
Other allocations include N29.7 billion for the Office of the National Security Adviser, N49 billion for the Department of State Services, and N18 billion for the Independent National Electoral Commission to conduct off-cycle governorship elections in Bayelsa, Kogi, and Imo States on November 11.
It’s important to note that this budget proposal is subject to approval by the National Assembly.
Source: Vanguard