The Federal Government on Monday approved N210 billion for the payment of the N35,000 wage increment for Nigeria civil servants.
The approval was part of N2.18 trillion supplementary budget being proposed by President Bola Tinubu.
During the Federal Executive Council (FEC) Meeting Chaired by President Tinubu, the Minister of Budget and National Planning, Abubakar Bagudu announced that defence, works and other critical areas will also receive attention.
Bagudu said:
“The Council considered a request for supplementary appropriation which is a second for 2023, and graciously approved the sum of N2,176,791,286,033, as supplementary budget and this supplementary budget is to fund urgent issues.
“N605bn for national defence and security 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.
“Equally a sum of N300bn was provided to repair bridges including Eko and Third Mainland Bridges as well as construction, rehabilitation and maintenance of many roads nationwide before the return of the rainy season.
” Equally. the sum of N210bn was provided for the payment of wage awards. In negotiation with the Nigeria Labour Congress, the Federal Government agreed to pay N35,000 each to about 1.5 million employees of the Federal Government and that amounts from September, October, November and December 2023.
“Also, N400bn as cash transfer payments. You may recall that the Federal Government secured a $800m loan from the World Bank to pay cash transfers of N25,000 to 15 million households. The $800 million is for two months, October and November. The President graciously approved that an additional month should be funded by the federal government and that is what this N100bn is for.”
” The President graciously approved that an additional month should be funded by the Federal Government and that is what this N100 billion is for.
” Equally, N100 billion has been provided for the Federal Capital Territory in order to support them in urgent and immediate capital expenditure works that can enhance the infrastructure in the city. ”
” Also, N18 billion was provided for the Independent National Electoral Commission to support them in the conducting the Bayelsa, Kogi and Imo states elections.”
Bagudu also revealed that that N5.5 billion has also been provided for the funding of the take-off of the Student Loans Board and N8 billion for the take-off grant of new ministries.
” Equally the sum of N200 billion was provided as capital supplementation to deal with urgent requests that have been made to President Bola Tinubu from various parts of the country.”
