FEC approves N895bn draft supplementary 2021 budget

The Federal Executive Council (FEC) has approved a draft supplementary budget of N895 billion for the year 2021.
Minister of Finance, Dr Zainab Ahmed, revealed this when she briefed State House correspondents on the outcome of the Council meeting chaired by President Muhammadu Buhari, in Abuja on Wednesday.
Ahmed said the next step would be to present a bill to that effect to the National Assembly for approval, in line with constitutional provisions.
She said: “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.
Ahmed added that the approval was based on the need for funding to ensure that Nigeria is able to meet its commitment under the Nigerian Comprehensive AIDS programme.
It was also based on as the urgent need to specifically enhance the capacity of the military and para-military agencies to tackle the various security challenges in the country.
“The council on that note approved the 2021 supplementary appropriation bill, in an aggregate expenditure of N895,842,462,917.
”The total of this expenditure is made up of N83.56 billion for COVID-19 vaccine programme, covering 30 billion vaccines from Johnson and Johnson vaccines and the logistics cost related to the deployment of that vaccine….TO CONTINUE READING CLICK HERE