President Bola Tinubu has submitted a letter to the House of Representatives, requesting approval for a sum of N2.1 trillion as the supplementary budget for 2023.

According to Channels Television, the President also forwarded the 2024-2026 Medium Term Expenditure Framework & Fiscal Strategy Paper to the House of Representatives for approval.

On Monday, the Federal Executive Council (FEC) sanctioned the 2023 supplementary budget of N2.1 trillion to address labor wage adjustments, security, and other critical issues.

Speaking after the FEC meeting in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, explained that the budget aims to finance urgent matters, including N605 billion for national defense and security to sustain and accelerate progress in this area before the year concludes.

Bagudu clarified that allocations will be directed to maintain advancements in agriculture, and the budget will cover four months of wage awards for Federal Government workers and student loan funds.

Furthermore, the minister revealed that the Federal Government has allocated N18 billion for the Independent National Electoral Commission (INEC) to conduct off-cycle elections in Bayelsa, Imo, and Kogi States next month.