The Supplementary Appropriation Bill forwarded to the Senate by the executive for approval has passed the first reading.
The essence of the bill sponsored by Senate Leader Opeyemi Bamidele is to give legislative backing to the supplementary budget of about N2.2 trillion approved by the Federal Executive Council in Abuja on Monday.
The executive said the extra sum is needed to fund critical security, infrastructural, and agricultural issues as well as to cater for the 11 November governorship elections in Kogi, Imo, and Bayelsa States.
A breakdown of the estimate according to the Minister of Budget, Atiku Bagudu, shows that N605 billion will go to national defense and security, and N300bn to repair works on Eko Bridge, Third Mainland Bridge, andconstruction and maintenance of roads across Nigeria.
The sum of N200 billion was earmarked for seed input, supplies, and agricultural implements, N210 billion will be expended on wage awards following the recent negotiation with the Nigerian Labour Congress (NLC), while INEC will receive N18 billion to enable it to fund the November elections.
